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Good thing this "recovery" is going so well!

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Old 05-19-2010, 01:28 PM
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Dupe

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Old 05-19-2010, 01:39 PM
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Originally Posted by sunsation96 View Post
If anyone knows of anything I am all ears, again not that I have to get out just would be nice too refi. I have heard that they are coming out with a loan for those "upside down" home owners. I am in no way of any danger of losing my home just looking to save some money, for boat gas
I can't find the article but it was out yesterday. Gov program that allows you to refinance if you are up to 110% of appraised value of your home to a lower rate in the 4.75% range.

Call your lender that holds your loan or give HUD's help line a call.
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Old 05-19-2010, 01:59 PM
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Nfm

Last edited by Von Bongo; 05-19-2010 at 02:17 PM. Reason: Duplicate post from phone
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Old 05-19-2010, 02:03 PM
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I can't find the article but it was out yesterday. Gov program that allows you to refinance if you are up to 110% of appraised value of your home to a lower rate in the 4.75% range.

Call your lender that holds your loan or give HUD's help line a call.
Thanks the for information
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Old 05-19-2010, 02:06 PM
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My business has been slowly turning around since the beginning of the year... I closed 3 deals last week alone and I'm hiring sales and recruiters to support the needs....

I spoke to a renovation and marble guy at the Mahopac run Saturday. He said he's having one of his best years so far...

I'm optomistic!
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Old 05-19-2010, 02:33 PM
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2 years ago it was how much you could sign for and borrow from the bank. Now its how much money do you really have.
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Old 05-19-2010, 03:55 PM
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Originally Posted by Von Bongo View Post
I can't find the article but it was out yesterday. Gov program that allows you to refinance if you are up to 110% of appraised value of your home to a lower rate in the 4.75% range.

Call your lender that holds your loan or give HUD's help line a call.
What is the $ limit on the home/loan?
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Old 05-19-2010, 03:59 PM
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2 years ago it was how much you could sign for and borrow from the bank. Now its how much money do you really have.
And then reality set in!

It's not necessarily a bad thing from my perspective... We don't need people buying boats, cars and RV's on equity lines or using them as personal checking accts..
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Old 05-19-2010, 05:47 PM
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Here's another thing to keep in mind. 96% of home loans written in the 1st quarter were government in some way FHA, FNMA, FHLMC.

At some poin they have to cut off the unlimited line to Fannie and Freddie and right now there is no private market anymore so I think real estate will not get better for a very, very long time.
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Old 05-19-2010, 06:44 PM
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And then reality set in!

It's not necessarily a bad thing from my perspective... We don't need people buying boats, cars and RV's on equity lines or using them as personal checking accts..
Pretty much most of what people called "the good times" last decade. Smoke and mirrors. I feel better when the old ways go back into place, no more funny money. It's great when it gets filled up, but the sucking sound as the economy goes down the drain is not good.
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