Subprime Situation Spurs A Whole Lot Of Talk

RE:Subprime Situation Spurs A Whole Lot Of Talk

cheque — Mon, 09 Apr 2007 11:00:00 GMT

We forget that the Real Estate Market is Cyclical & self correcting.-It goes up,then down,then up again,regardless of underwriting guidelines,inflated market values &so forth.And that supply&demand is the major factor in dictating how valuable a commodity really is.Land is a major cmmodity,of which they're not making anymore. Last note,forX# of loans their areX#of loans that go into dfault.Dfaults r agiven Ezequiel "CHEQUE" Aguilar/Realtor, Helping families achieve their "American Dream"

RE:Subprime Situation Spurs A Whole Lot Of Talk

Paco — Wed, 04 Apr 2007 11:00:00 GMT

Why doesn't the Lending Community as well as HUD (FHA loans) wake up to the fact that everyone is not capable of making mortgage payments. Do not blame, as there is enough to go around. Stop making loans to people who have no idea as to how to maintain good credit or budget and end up defaulting on their mortgage. A home must be earned not given to everyone because we are Americans.

RE:Subprime Situation Spurs A Whole Lot Of Talk

UNCW students — Tue, 03 Apr 2007 11:00:00 GMT

My students think you guys are getting all worked up over a market that is long-term efficient, if short term irrational. Allow the market to work, acknowledging its excesses and correcting for them where that correction is not onerous, and the market will settle and reprice quickly, get in the market's way, and that "settlement" could be long and costly. Senator Dodd, we all agree, needs years of counseling and education, but such is the nature of politics.

RE:Subprime Situation Spurs A Whole Lot Of Talk

Steven R. Smith, MSREA, MAI, SRA — Mon, 02 Apr 2007 11:00:00 GMT

The boom in R.E. sales was fueled by a myriad of hybrid lending probrams, liberal underwriting, by frauds of all kinds, and by the enablers who inflated the appraised values to help make deals work and get their $300. It was an artifical boom, it was irrational in terms of Incomes & Affordability. Millions of people packed into their homes at SP that were never worth it. Appraisers inflated 5% to 10% to make the deals work over the last 5-years. 25% to 50% of the values is artificial.

RE:Subprime Situation Spurs A Whole Lot Of Talk

Horace Pennix — Mon, 02 Apr 2007 11:00:00 GMT

This came from a market that was greedy. I am a broker who saw this coming 1 1/2 ago. I left residental and went commercial. I feel sorry for the families. Some of these loans never should have gone. These lenders made exception after exception to keep their numbers. It is a shame.

RE:Subprime Situation Spurs A Whole Lot Of Talk

Bill — Mon, 02 Apr 2007 11:00:00 GMT

Right Steve! I turned down so much work that the values were so pumped, it was incomprehensible! I actually had a mortgage broker chew me out that because I would not appraise a property at +/- $300k, he would not make his mandatory $19,000 in, whatever!! And this was a so called 2nd home for the same borrower who already had three other "2nd homes". Lender Beware! After over 25 years in the biz, I thought I'd seen it all.