credit crunch: smelling like a rose or something else...
- 11/02/07 03:59 AM
Why is it that people are shocked that after walking on the edge of the garbage dump, they go home smelling like a garbage dump? Politicians, CEOs, corporations, LOs, and all the rest of us too. Every one of us has to decide that we will not participate in anything that has even a chance of looking shady or suggests impropriety. That said, Loan officers sold what the mortgage companies provided. Mortgage companies created what Wall street wanted. Higher and higher risk can lead to greater and greater payoffs, but at some point we cross over the boundary of risk vs reward. Well we … (1 comments)
credit crunch: Mortgages for Investors - a raw deal indeed!
- 09/17/07 11:14 AM
There was a time not long ago that investors with good credit could get a mortgage for that next property with no money down at all - even without closing costs. The problem is - as always - a few bad apples ruined the bushell. Today lenders have very strict guidelines about who they will and will not lend to. The barries for investors are the highest by far. Not only do most lenders want to see 20% down if you want to be anywhere in the same neighborhood as conforming rates, but they strictly limit how many you can own. How … (1 comments)
Why is it that people are shocked that after walking on the edge of the garbage dump, they go home smelling like a garbage dump?;)
;)
