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It is getting better....

By Coastal Funding Corporation Inc.

Mortgage and Lending with Coastal Funding Corporation NMLS: 103035

June 03, 2008 04:33 AM

It's about time... Slowly, Sub-Prime is returning... As each day passes, more and more loan programs are returning...

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Alison Swain

3rd Generation Appraisal Services - Orlando, FL

I think having the news media focus on the high oil prices instead of housing problems has also helped (oddly enough).

Jun 12, 2008 10:27 AM

chuck armbruster

LIFETIME MORTGAGE LLC - Chandler, AZ

Declining market is in the eye of the investor, only. Mortgage lenders have begun to remove the 5% loan amount adjustment. Soon, all lenders will reflect the status quo.

Also, although Fixed rate mortgages may look atttractive, borowers frequently refinance anyway, for whatever reasons. 3-yr and 5-yr adjustables continue to price favorably, and as anyone looking at home prices will concur, prices will certainly be going up from here on out...or continuing to stagnate, depending on your particular market, of course.

Jun 24, 2008 05:16 AM

-- Casey Brischle

Columbia Bank - Spokane, WA

Spokane Home Loan Mortgage Professional

What subprime programs are you seeing that are coming back? I agree Alison, it is nice to see housing and mortgages out of the limelight a little

Jun 26, 2008 10:44 AM

Coastal Funding Corporation Inc.

Coastal Funding Corporation - Myrtle Beach, SC

CFC Mortgage

I think values are going to be reduced at the first of the year due to the change. The banks will order appraisals. With the bank ordering appraisals, do you really think the values will stay where they are??? You will see at least a 10-15% reduction in home value almost immediately. We are having enough trouble now with property appraising. I have several clients who are so upside down (car finance term) in their mortgage they are stuck... No options. In the Myrtle Beach area, there are new sub-divisions still popping up all over. Builders are selling property so much below where current values are, most people in that sub-division are simply stuck.... Come next year, refi's are going to be few and far between. Purchases will be threw the roof. The average working class will once again be able to afford a decent home.

Jun 27, 2008 03:14 AM