Comments on: The Incredible Shrinking Mortgage Market

By: Best Mortgages

Best Mortgages — Sat, 22 May 2010 10:49:53 +0000

Great insight into the housing market. Learning from our mistakes would be nice but is unrealistic. Lenders are available who provide mortgages to borrowers with bad credit.
Best Mortgages
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elnora.kilday

By: same mortgage

same mortgage — Tue, 20 Oct 2009 20:20:46 +0000

Indeed now is the best time to buy real-estate. Such house’s price decline was long ago and such deep. We know that considerable increase of prices follows bottoms.
It’s necessary to be thoughtful in purchase real estate if there is possibility.

By: Credit Help

Credit Help — Mon, 19 Oct 2009 04:48:44 +0000

Learning from our mistakes would be nice but is unrealistic. Lenders are available who provide mortgages to borrowers with bad credit. Depending on your financial situation, now might be a good time to lock in on a low rate. Good luck.

By: Penelope Cox

Penelope Cox — Sun, 18 Oct 2009 19:28:11 +0000

Thanks for sharing the update, that I personally experienced. I built my real estate business on the “Distress” market, and experienced the fall-out in March 2008 when the lenders tightened their lending requirements. My investors could no longer get 100% financing, so immediately lost all my investor buyers. And, then the traditional buyers fell-out because the credit score requirements increased from 580 to 720 within 4 weeks – and lost 25 buyers, who were no longer able to get qualified for a loan.

I left my real estate business, and am thanful for the opportunities that opened.

Good story.

By: Penelope Cox

Penelope Cox — Sun, 18 Oct 2009 02:15:04 +0000

Great insight into the housing market. I built my real estate business on the Distress Market opportunity, until it fell apart and my investor buyers were no longer able to get 100% financing, which accured in March, 2008 when financing starter tightening. Investors had to start putting some of their own money down, and my traditional buyers needed to raise their credit score from 580 to 620, then it went from 620 up to 720 before my buyers could qualify. I got hit before the fall out. Thanks for the good reporting.

Penelope Cox

By: Bob

Bob — Sun, 18 Oct 2009 01:30:04 +0000

You sound like this was a bad thing. The bust has made homes more affordable and more in line with incomes. It might have been very hard on some, but I feel they all knew down in thier hearts something was not really right.

1 like

By: chuck

chuck — Sun, 18 Oct 2009 01:18:52 +0000

real estate will rebound. but the best move right now is to go to landlord friendly states and invest in properties that will positive cash flow after renting. The key is to buy them in states that the laws favor the landlord. for example Arizona law If someone does not pay their rent you can evict in 4 days. I live in N.J. and I watched friends of mine get burned by people who squatted on their rental properties for a year or more before they could legally evict them through court system. Where are you supposed to put your money? In the stock market? (where do you think the rest of the stimulus money is?) that is my theory that the money waiting to be released around the time for democratic push in 2010 elections is vested in the stock market.That is the only explaination of the dow surge over 10,000 benchmark. You can’t tell me that little old Martha Stewart is the only inside investor on wall street. LOL. Anyway back to subject. The key is NOT to buy a house thinking it will go up in value,but to buy a house with positive cash flow and ride it out. With all the money being wasted in Washington(and the over printing of money with no gold to back it up) You will see a rubber band effect snap back on us with double digit inflation(why do you think Obama stopped the cost of living raises for seniors). in 2 years when inflation is 10% they would not be able to give seniors cost of living raises at that level. We are all screwed as long as fiscal responcibility is a curse word in Washington.

By: Bobby

Bobby — Sat, 17 Oct 2009 04:02:11 +0000

I’ve seen some numbers to suggest that wise investing and renting is much more fiscally intelligent in the long run than buying a house. Many more folks will be testing that idea in the near future.

By: Thomas Fleckenstein

Thomas Fleckenstein — Fri, 16 Oct 2009 17:41:33 +0000

My wife and I have recently applied for a mortgage and have discovered that getting out of debt and staying there have actually hampered our chances of being approved. Is it any wonder we are in the current crisis when we refuse to learn from past mistakes?

3 likes