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Your Next Project Starts with Brownstoner
Snappy – I thought it was safe anyway since his was on ice in the fridge.
Arkady, I’m glad there are no ‘V’ streets on the list…Dave will surely have us marching down 5th Avenue mumbling something about vaginas! LOL
“If you do 100% finance, how in the hell do you manage to get another loan for upgrades? at 100%, you have no equity to tap. WTF?”
Ah, Snappy, you don’t get it.
It works because home prices never go down. Ask Greenspan. So it all doesn’t matter, because in a couple of years your house is worth, ya know, 30% more than it was when you bought it. So you just refi everything and begin again.
It actually worked for quite a while. Until it didn’t.
I came from London to get away from the rainy summers. What the dickens is going on? I want my money back.
Snappy, I saw that episode, too, and thought Mike Aubrey was on point and made sense. The couple, especially the wife, just looked at him like he had two heads. They were especially clueless and annoying when touring the other comps apartments. The Sainted Tenant and I were screaming when she said the condo building and apartment built in 1974 looked “old”, and no one young would ever live there, yet it was the best apartment he showed them. She was so arrogant and know it all.
BTW, did you get my kitty pix email?
Arkady…it sounds like some of those people’s eyes were bigger than their wallets/bank accounts. Now it seems that those who can’t pay the bank back are screwed, and so is the bank. Why bother to foreclose on something when the seller couldn’t even manage to dump it on someone else? Are lots of banks allowing short sales now because of this?
Dibs – Mnemonic – Garfield, Carroll, President, Union, Berkeley, Lincoln, St. John’s, Sterling, Park, Prospect, Bergen, Dean
ARMS sound dangerous regardless of market…you never know what will happen to your income and it’s a huge risk to take hoping that the ARM won’t adjust upward in a big way and essentially kicking you in the @ss. Do (or have) ARMS adjust downward and reduce folks’ payments? Are some borrowers stuck with taking an ARM due to credit or something?
gemini…have you ever had the pizza at the takeout side of fresco by Scotto on 52nd bet Park & Madison??? It’s very, very good. Also try Mama’s Lasagne there as well….each serving is enough for 2!!!