http://mortgage.free...ecurities/5128/
U.F.O.
Edited by U.F.O., 03 January 2009 - 03:16 PM.
Posted 03 January 2009 - 03:14 PM
Edited by U.F.O., 03 January 2009 - 03:16 PM.
Posted 03 January 2009 - 03:47 PM
Thanks UFO!http://news.yahoo.co...e_mortgage_debt
http://mortgage.free...ecurities/5128/
U.F.O.
Edited by IYB, 03 January 2009 - 03:55 PM.
Posted 03 January 2009 - 04:20 PM
Posted 03 January 2009 - 04:32 PM
Posted 03 January 2009 - 04:41 PM
Edited by U.F.O., 03 January 2009 - 04:42 PM.
Posted 03 January 2009 - 04:58 PM
What you say is true- on loan modifications, though they are very slow and a bit "tricky" to get done unless one is already in deliquency. But they are a Godsend for those who need 'em as well as for the institution who owns the paper. BUT I am referring to a {yet another} new streamline REFI program where you don't write a check for the deficiency, because there is no appraisal-and thus no assumed deficiency. It's a true refi program with very streamlined and easy approval process- basically like what FHA and VA have been doing for years. now Fannie and Freddie are firing up this refi program.Freddie/Fannie are already being prepped to modify these type loans without appraisals. Don't think a standard refi where you have to write a check to cover any deficiency between the newly appraised (lower) value of your home and the higher loan amount. Upside down won't matter in this program about to commence. Who pays for it? We do...of course.
U.F.O.
Posted 03 January 2009 - 05:04 PM
Posted 03 January 2009 - 05:19 PM
Mark S Young
Wall Street Sentiment
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Posted 03 January 2009 - 05:54 PM
Posted 03 January 2009 - 06:29 PM
The single, biggest reason for the economic crisis we have at hand is the demise of the housing market. This 12 trillion dollar domino has taken us to the brink. Markets function on perceptions. They discount our perception of the future. If this refi program starts meeting with the type of success I feel is possible, there's a very good chance that the market starts discounting an early rebound for housing and therefore for the broader economy. We may be seeing the earliest recognition of this potential right now. This, combined with enough cash in the system to float your way to Mars, should cause a huge rally before the FED can start draining reserves. If one as astute as OEXCHAOS needs to get up to speed on this you can book it that the vast majority of investor/speculators haven't studied up yet on what's about to happen. Huge may be an understatement.
U.F.O.
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