Comments on: FHA Backed Loans and No Money Down Government Financed Mortgages with Seller Funded Down Payment Assistance: $8,000 Tax Credit Costing $45,000 for Each Additional Home Sale.

By: StillARenter

StillARenter — Fri, 09 Oct 2009 22:05:08 +0000

The next leg down for housing won’t come until the 2nd shoe of the stock market drops…

This run from 6000 to 10,000 DOW in less than a year is ridiculous… and unprecidented.

We’ll have a huge stock sell off this year… What sane money manager will sit on 40% gains going into 2010? A huge sell off is coming… It might even be as dramatic as some of those 700 pt sell offs we had in march…

By: Steve

Steve — Sun, 06 Sep 2009 02:57:31 +0000

Just an anecdotal note on purchase rates regardless of incentives vis-a-vis cash for clunkers. My family manages a car dealership which decided not to take part in cash for clunkers due to the paperwork and the loss of the trade-in sale. However, before the dealership decided not to participate, they had about 50 deals lined up under the program. As of last week, about 50% of those who were going to buy under cash for clunkers bought anyway–even though they could have easily gone down the street to the next dealer. My guess is at least half of the remaining half would have bought regardless. While you can’t generalize from the particular, its interesting that the gov’t is undergoing massive spending to juice the stats by what, 5, 10, maybe 25%?

By: Kathryn

Kathryn — Sat, 05 Sep 2009 14:04:43 +0000

Our rental community in Colorado has been trying to buy in droves this year. It is ironic that the “credit” is to be paid back. Don’t think they know that yet!

By: just doug

just doug — Sat, 05 Sep 2009 02:16:26 +0000

When I sold my house in May I got several offers with FHA financing that would have had me financing the down payments in fact if not terminology so regardless what the official story is it’s still being done one way or another.

By: Lawson

Lawson — Fri, 04 Sep 2009 23:56:01 +0000

We’re going inside the California Housing Bubble to see what really happened.
This tiny house in a gang infested area in the city of San Fernando was bought with this money from this bank.

Was the realtor stupid?…no…she made a commision.
Was the buyer stupid?…no…he received a loan based on a pin number without a real social security number because he is actually an illegal alien.

Was the seller stupid…no…she received 10 times what the home’s value is really worth and sold it to her cousin who was from El Salvador,
Was the appraiser stupid…no…she is the daughter of the owner.

Was the mortgage lender stupid…no he made a commision.
Was the bank stupid?…no…because greedy Wall Street Invesment firms bought up all the stinky liar loans and resold them as CDO’s

Was the Wall Street Investment firm stupid?…no…because they sold those loans as CDO’s.
Was the Federal Reserve stupid…no..they got the Government to bail out the big firms that were to big to fail with TARP money from tax payers.

Was the Government stupid…no…they had the U.S.Treasury print more money and the Feds laundered the money through Caman Island Banks to buy more U.S. Treasury bonds. So who is stupid?

Hey look…here comes a resposible white guy to deposit his paycheck in our branch in San Fernando…he must be stupid to continue doing business with us.

Why am I speaking with a French accent…because look at what America has done to it’s economy…you are all stuuupeeed!!!