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End of the 30 year mortgage?

By Robert L. Brown

Real Estate Agent with www.mrbrownsellsgr.com 6506044358

March 06, 2011 08:23 AM

Can you imagine this ever happening? Being a realtor for over 25 years this has been in place for as long as I can remember. But with this market anything can happen and it usually does. How will this affect the buyers coming up in the future? Only time will tell. I’m not going to say this doesn’t frighten me because it does. Who knew 10+ years that all these changes would be common place in this market.

We have to be like a chameleon and roll with the punches. We have to be agents of change. That’s how we will be able to survive.

http://finance.yahoo.com/loans/article/112270/without-loan-giants-30-year-mortgage-may-fade?mod=loans-home

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Jon Quist

Clayton, NC

THE BUYERS ONLY Realtor since 1996

When the now "traditional" mortgages go away, it will drive down home prices big time, until houses with big down payments appear more affordable. The days of the middle class home buyer will be a thing of the past.

And the overall employment market will be severly impacted in all sorts of occupations.

Mar 06, 2011 08:28 AM

Kenneth Cole

Weichert Realtors Appleseed Group, 2043 Richmond Ave. S.I.N.Y. 10314. office phone 718-698-9797, Appleseedhomes.com... - Staten Island, NY

NYS Licensed Real Estate Salesperson

I don't believe it for one second. Remember, to be successful, you need only to find a need and fill it. You think no one will be looking for a 30 anymore just because big banks not doing it? That's when little bank steps up and becomes successful.

Mar 06, 2011 08:30 AM

Maria Couto

RE/MAX Premier - Berkeley Heights, NJ

Realtor with "Results That "MOVE" You'

Kenneth took the words out of my mouth. I think the "traditional" mortgages will survive maybe just with smaller lenders. However money is money, I can't see larger lenders giving up on the dollars.

Mar 06, 2011 08:34 AM

William Feela

WHISPERING PINES REALTY - North Branch, MN

Realtor, Whispering Pines Realty 651-674-5999 No.

When people get back to work, and get greedy and want to make more of a return on their investments and retirement accounts we will see all kinds of offers for riskier financing again.

Mar 06, 2011 09:13 AM

Robert L. Brown

www.mrbrownsellsgr.com - Grand Rapids, MI

Grand Rapids Real Estate Bellabay Realty, West Mic

Jon they are down right now. I hope this does NOT happen.

Kenneth. More of a "community" kind of bank will step to the plate.

Maria. You're right. Money is money. I couldn't see them passing it up myself.

William. Do you really think so?

Mar 06, 2011 10:13 AM

Robert; You look so young to be so smart. You opened up a great topic. I'm suggesting. Good luck to you.

Mar 06, 2011 10:50 AM

Kenneth. Young eh?? Sometime i don't feel so young. This market will take a toll on you.

Mar 06, 2011 12:14 PM

Robert; time will take care of the young part, be thankful you got the smarts, it will only grow.

Mar 07, 2011 08:52 AM

Kenneth. Thank you.

Mar 09, 2011 05:07 AM

End of the 30 year mortgage?

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