Rates can go to zero and it wont matter!!!there is zero equity in most of the properties and the 100% loans are gone for people with sh*ty credit
these guys like cramer are clueless on the real estate mkt
Started by
atlasshrugged
, Aug 07 2007 05:07 PM
4 replies to this topic
#1
Posted 07 August 2007 - 05:07 PM
#2
Posted 07 August 2007 - 05:23 PM
Rates can go to zero and it wont matter!!!there is zero equity in most of the properties and the 100% loans are gone for people with sh*ty credit
You're right. But the question is whether the politicians change any of the rules, or whether lenders decide that it is prudent to rewrite the terms of loans rather than take the property back, spend the foreclosure costs, and then lose money on the sale of the house. I'm not predicting that any of this will happen. Just pointing out that it could happen in today's climate.
#3
Posted 07 August 2007 - 06:39 PM
Rates can go to zero and it wont matter!!!there is zero equity in most of the properties and the 100% loans are gone for people with sh*ty credit
You're right. But the question is whether the politicians change any of the rules, or whether lenders decide that it is prudent to rewrite the terms of loans rather than take the property back, spend the foreclosure costs, and then lose money on the sale of the house. I'm not predicting that any of this will happen. Just pointing out that it could happen in today's climate.
its a band aid on a broken leg....!!!
#4
Posted 07 August 2007 - 07:38 PM
The 50 & 60 year loan is on the horizon! They can never own their house
Only in geometry can a line go into infinity.
#5
Posted 07 August 2007 - 07:57 PM
I don't think they care...they'll just repossess the homes, sell them off to some REIT and then rent them back to us. the banks own us, one way or another.
"A state of war only serves as an excuse for domestic tyranny." - Aleksandr Solzhenitsyn
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