Recent requests for BPO's have asked me to comment on "the potential impact to current inventory levels in the event mortgage insurance availability decreases." Are they crazy? Mortgage insurance exists because buyers don't have money for a downpayment. Is something going to happen to get them that money? I know why mortgage insurance may "go away." They are bleeding money like crazy. They have to come up with the difference between today's sale price and the amount owed on the existing mortgage. They (the insurers) will be the next to go belly up. So what will happen if that occurs? Inventories will go through the roof. Prices will plummet. And then somebody, somewhere, will come up with a solution. What do you think? Can you afford to take a few years off while that market self-corrects?
RE/MAX Gold Coast REALTORS, Ventura County, California - Ventura, CA
No Ordinary Joe
I'd prefer not to think about it. There is still FHA financing if conventional routes become to scarce. Now if they'll only make those higher loan limits permanent.
Jun 24, 2008 02:53 AM
Solaris Realty - Tampa, FL
Good morning Jeanne - Welcome to Active Rain. There is a newbies group you may want to check out. Just click on the button that says groups and you will see it.
Jun 24, 2008 03:08 AM
Rainer
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Jeanne L. Turnock
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