People don’t want to get in over their heads with a mortgage payment they can’t afford.
April 21, 2009 – 11:13 pm
No credit means just that: here’s a person who has no established credit history.
My Mom is harrassing me to buy a house. She keeps telling me I have to get this $8,000 stimulus refund and I have to close this year!
Check out my Re-Posted article on making offers and you, too, can get the home you want at the price you want to pay.
August 31, 2008 – 8:51 am
I don’t think my radar is any more tweaked than usual, but I did pick up quite a few quotes in today’s NYTimes.com which point to the American Dream of homeownership and the “intangible benefits” of same. I have long said that you simply cannot put a number to quantify the intangible benefits of homeownership. [...]
August 28, 2008 – 8:42 am
I did it again last night: I wrote a loan application to save a purchase where the Buyers had gone to two other mortgage companies. Those companies couldn’t find a way to approve their loan request. The mortgage biz ain’t rocket science. Why is it so difficult for mortgage people to get their act together? [...]
August 27, 2008 – 9:00 am
Holy Cow! You would think the market was still red hot the way Sellers are (still) behaving! Either they have no patience with the new (difficult) paradigm of mortgage financing or they still think their homes are worth $42Million!!! Really, of late I’m seeing this ridiculous attitude from Sellers threatening to kill deals and hold [...]
August 20, 2008 – 7:36 am
I learned early on one fundamental of buying a home: it’s all about the monthly payment. If you can’t afford the payment, you don’t buy the house. Pretty darned simple math, really.
February 24, 2008 – 12:38 pm
Do something spectacular and unusual this year when you visit your tax professional: tell her you don’t want a refund next year more than $1,000! Yes, you read correctly, NO REFUND next year more than $1,000. Wow, this is a radical concept. Everyone knows that we Americans love our tax refunds. That late winter/early spring [...]
October 17, 2007 – 4:09 pm
With the mortgage meltdown eradicating piggyback loan programs, and borrowers still needing to finance more than 80% of the purchase price of a home, the need for loans with PMI has become a default issue.
