No Shirt, No Shoes, No Mortgage
It’s getting more and more difficult for would-be borrowers in the New York region to get a mortgage, according to an article in yesterday’s Times. Mortgage brokers say many lenders are refusing loans to applicants with credit scores that are below the 680-700 range. Stated-income loans, meanwhile, are basically history, and people with lower credit…
It’s getting more and more difficult for would-be borrowers in the New York region to get a mortgage, according to an article in yesterday’s Times. Mortgage brokers say many lenders are refusing loans to applicants with credit scores that are below the 680-700 range. Stated-income loans, meanwhile, are basically history, and people with lower credit scores have to pay much bigger down payments. To add insult to injury, loans are coming with more fees nowadays, especially for those with less-than-pristine credit. One financial analyst says loan applicants with credit scores below 720 and down payments of less than 40 percent face fees between .5 and .75 percent of the loan amount. Is all this a necessary correction, or has the pendulum swung too far in the other direction, making home ownership unattainable for a huge segment of the population?
Lenders Raise the Bar [NY Times]
Chart from The New York Times.
“Ok, A$$hat. Why DOESN’T you stick to the points”
Jeeze, there’s no hope.
1.32 – thus causing their exit?
You are way too exited. Calm down and buy some Cs.
In retrospect I have to say the What is partially right and if this trend continues he will be completely right sadly. I am looking to buy in FG and have 115K down payment on a 950K place with an income of 275K and above average credit but cannot find a decent mortgage. Things are tough folks..I may have to hold back for a while even though the wifey is 2 months pregnant.
People are not particularly exited about America failing, they are very exited about people who they perceive to be doing better than them in some area getting their comeuppance.
what a bunch of crap 1.12 its unpatriotic to short sell? and i thought they wore little stars and stripes on their sleeves down at the stock exchange as they gladly sell you a lot of overpriced crap that could very possibly end up in the crapper when people start to realise they have no more home equity to spend and that the government has spent a little bit to much that they do not have. i pity the tax burden that our next generations will have to bear because of our recent fiscal mismanagement.
A gallon of gas in any country in Western Europe is approximately $8.00-10.00.
This is nothing new for countries that are more sophisticated, greener and more culturally sound than the United States.
I’m hoping as this country matures, we will fin d ourselves finally starting to pay attention.
This country is more emotionally bankrupt than it is financially.
And that’s the REAL problem here that no one seesm to want to admit.
Never before in history would people give credence to someone like The What. America was founded on optimism and the notion that with hard work, you can do anything. You know…that whole American dream business.
So remember every time you praise The What, you are being Anti-American, in my opinion. Now, I’m not the most patriotic person by any means, but I’m definitely not Anti American.
I find this crap about seeming to be EXCITED about the prospect of our country failing to be disgusting, repulsive, ignorant and very VERY WEAK.
What ever happened to thinking that we will pull out of this just fine, just has been the case of all of American History up until this point??
What would anyone here want to hope people fail. People like the What need to go try living in China, or Sudan or Cuba or Burma or South Africa for a little while then come back and tell me what you think of this f*cking mutant real estate bubble!!!
The restaurant on Clinton and Fulton may suffer more from poor location or something than anything else. Recently tried to go to Bonita and Luz at 630 on Saturday and couln’t get in. The real name is Autour du Monde I think; anyone have any experience with it?
“Here we go! This weekend clinton hill was a ghost town.”
I own a business on Myrtle and we had a good day on friday, a very good, strong day on Saturday and a very good strong 1/2 day on Sunday but when it started raining it slowed down. We were closing up the shop on sunday when the rain stopped ~I noticed the avenue was busy again.
Both gas stations on Myrtle do not seem any less busy
$4+ is a sticker shock for gas but lets get real – Americans have just gotten used to cheap gas prices. Compare gas prices in the 70′ & 80’s to prices now, adjust for inflation and the prices are more or less the same . Also, unless you are driving an SUV or a truck , your gas mileage is much better then any car from 70’s and most cars from the 80’s.
“You really shouldn’t be calling people dumbasses when you type “commodity prices WAS up”.”
Ok, A$$hat. Why doesn’t you stick to the points and Lodi, NJ, recession, depression, oil prices, ghetto, punk@ss, blah blah blah
The What
Someday this war is gonna end…