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.
Only stupid one I see here is the What.
Ok Posted by: guest at May 19, 2008 10:53 AM
Here we go! This weekend clinton hill was a ghost town. People cannot afford to drive. Gas is at 4.11 for Regular and 4.67 for high test! The restaurant “Le Monde” to one on Clinton and Fulton was empty Friday And Saturday nights! Go there and ask the owner of there is a “week, non recessionary economy”. Go to Flatbush Ave and ask the store owners if there is a “week, non recessionary economy”! Go to the Gas Station owners and ask then if we have a “week, non recessionary economy” Go and ask the Car Dealers if we have a “week, non recessionary economy”. Go stand on Vanderlt and Atlantic and observe if we have a “week, non recessionary economy”! Go to Target at Atlantic mall and see if we have a “week, non recessionary economy”!
Ether you are a troll of real stupid! I hope you are a troll. Yep, keep praying!
The What
Someday this war is gonna end…..
ummm…no recession, the what.
see that.
things are not even close to as bad as you said.
you predicted a depression.
we have a week, non recessionary economy.
you are WRONG.
admit it you ignorant slob!
“We went to an open house a week ago for Park Slope brownstone. We bid asking price and lost the house to a higher bidder. I don’t see what you see, The What. I see that it’s happening in Lodi, but I don’t see it happening here.”
I will bet you very soon you will be happy that you lost out.
BTW The FED and your Government is making loans now, not the banks. The bank blew their wad months ago and thank GOD the FED has stepped in.
I see fools still want a piece of the American Dream. That’s OK homeboy keep running out there to buy a house. The What wants you to make the worse decision of your life. Become a debt slave!
Fools suffer gladly.
The What (Ha hahahahahahahah)
Someday this war is gonna end…
BREAKING NYTIMES NEWS:
NEW YORK (Reuters) – Stocks rose on Monday as a key economic forecasting gauge suggested that even though the economy was weak, it has averted recession, easing worries about the profit outlook.
Take THAT, The What!!!!
10:33
I get a lot of gratification knowing that you just signed.
Damn, i amz irrelevant when da only comments i gets is about my sign -off!
The What
Someday this war is gonna end…
………real estate only goes up and up!
someday this war is “going” to end…
FAKE!!!!!