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Carl Cantrell
Raider Carl

California
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"Google search a recent news article in the New York Times. In Judicial Foreclosure states...New York, Florida, etc., there are several thousand homeowners, still in their homes, that have not made a mortgage payment in over a year. The banks filed foreclosure, but unlike here in California, the process goes thru the courts. Pinellas county (Tampa) had 34,000 cases on their docket and it's gonna take years to get a court date. That's one county...image all the other states."    View Comment
"Holy Moley So, my pre approval was going to pay for monthly MI at $183.33 a month $400,000 Purch Price $394,685 Loan Amt (financing the 2.25% UpFrontMIP) Now she'll pay $509.81a mon?! Well...Walmart is hiring 500,000 people the next 5 yrs"    View Comment
"Doing a refi for a borrower with re established credit. A settlement on her credit from 2yrs ago, plus various other lates, drags her Fico down to 653. I get 5.875% @ -0-. DU fires fires approved eligible with a 47% LTV and 54% DTI. I suggect we payoff a credit card and car loan, lower her DTI to 39%, but LTV is now 61%. Rate is now 5.875% @ 2.125 Points! Bettering the position of the borrower...but 1% over in LTV and she has to pay $4500 in points to lower her monthly outgo. The New SubPrime"    View Comment
"4% or 4.5% Rates... It's the Mazda Miata syndrome....when they came out...everyone wanted one...ended up paying $30k for a $20k car"    View Comment
"A Loan Officer died and met St Peter at the pearly gates, etc...St Peter told the L/o, yes he made it to heaven but he was willing to give him a choice, Heaven or Hell? St Peter showed him Heaven, calm & peaceful, then gave him a tour of Hell...the L/o was shocked! People were happy, playing golf in the sun, smoking the best cigars, the best scotch was offered, beautifil girls everywhere, just awesome! But it was Hell. St Peter asked the L/o to decide and he asked for a day to think about...St..."    View Comment
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"Loan Scenario View All Post A Scenario Loan State: Arizona Loan County: Maricopa Loan Type: Purchase Loan Amount: $180,000 Property Value: $250,000 LTV: 72% FICO: 720 DTI: 41 Occupancy Type: Owner-Occupied Property Type: Single Family Residence Flip -- but a make sense flip... Auction purchase -- put on MLS - appraises for lot more than list price - purchase <90 day seasoning... anyone?? full doc of course"    View Post
"I use these two links -- as previously mentioned -- Freddie requires last 4 of social -- Fanny requires you to type in "what you see" in the box. Btw: while the DU refi +/LP refi + may "sound" great -- it hasn't applied to much of the audience in AZ, CA, NV or FL. Expensive as well, esp. w/Freddie as there's the $ limit you can roll into the new loan. In real-life, the applicant doesn't have the necessary $ to bring to the table - to obtain a rate that benefits them..."    View Post
"anyone know of a lender who does USDA-RD Guaranteed Loans AND will do one that will allow a 1yr seasoned BK-Ch7 with reestablished credit? 620+ fico -- and Bk was extenuating circumstances due to a divorse (so there's a strong explanatory letter)? A lender I use used to...but now changed to 3yrs. Thank you -- ron@sunstatesavings.com"    View Post
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