Chris1206

http://easyrenovationloans.com

7 Comments

    • How Much Further Will Housing Fall? [view article]
      You are defining the median household income of $50,233 as a person. It is not it a *household*. In 2007, the median earnings of men who worked full time, year-round was $45,113. For women it's $35,102. What is the percentage of home buyers that are couples that both work? Or, one member is a stay at home mom/dad?

      I think double-incomes need to be added to the conversation versus just the median household income.       Sep 02 02:27 PM
    • Declines from Peaks in Housing Show Big Disparity [view article]
      I hate to say it but a 30%+ drop from the peak is great for Phoenix. The run up to the peak was driven by easy credit and now we are paying for it. If you bought in 2005-2006 or used your house as an ATM and pulled cash out during that time you are feeling the pain.

      If you are a first time home buyer your waiting is about to be rewarded.       Aug 28 12:57 PM
    • June Case-Shiller Housing Numbers [view article]
      Phoenix continues to take it in the shorts. You could tell the run up here didn't make any sense. Now they are all paying for it. I'm glad I have rented for the past 5 years. I looked stupid when I wasn't in the game and now I'm the smartest guy in the room. Go figure? Aug 27 08:52 PM
    • How Housing Finance Actually Works [view article]
      Great work! I have not seen anyone else give that type of an analysis to the situation.

      Isn't it likely though that the 2007 defaults maybe even higher because of the fact that there are fewer sub prime options for that borrower today to refinance into?       Apr 27 08:58 AM
    • Florida Has a Five-Year Supply of Condo's - Housing Tracker [view article]
      Epam you are right. One person's despair is another person's opportunity. I know in our business (mortgage banking) we are seeing more first time home buyers taking advantage of a product that allows for a 3% down payment and additional money to fix up the home. I think the first time home buyers will be the saviors of the housing industry. When they buy we then have a seller who could be a buyer and the machine gets rolling again. Apr 17 06:27 PM
    • Disquieting Mortgage Trends in JP Morgan, Wachovia Results - Housing Tracker [view article]
      FHA will be the government's cash cow. Every FHA loan has an upfornt mortgage insurance premium payment (UFMIP) of 1.5% of the loan amount that goes immediately into the US Treasury. Until 2005, that amount could be partially refunded to the borrower if the loan was paid off or refinanced. Today a client only gets his partial refund if he refinances the loan (and pays the new amount of UFMIP) into another FHA loan. This doesn't even address the .5% of the loan amount that is collected annually in the borrower's monthly payment. Has anyone seen an estimate of estimated revenue for FHA? Apr 17 06:19 PM
    • Zillow Aims to Disrupt Lending Market With Its Mortgage Marketplace [view article]
      tcornelison is absolutely right. Answering the question, "What's are your fees and your best rate?", cannot be answered in today's mortgage lending environment. It really does take time to analyze the client's total situation (credit, income, LTV). There are so many new changes that have been implemented just within the past 6 months. Finally, Malkiel is also right, find a credible lender from personal referrals that will provide you the level of service that you need.

      @Dectra - You completely missed the point of the Zillow product. Zillow will not give provide your info to the lenders like Lending Tree does now. It sounds like you had a good experience with LT but they do provide all of your info (income, contact info, etc) to the lenders.

      Good luck to Zillow, I am sure it will be successful for them.       Apr 03 12:38 PM
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