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Renavatio

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Renavatio

Re: Waverider110 post# 19592

Tuesday, 08/07/2007 6:35:52 AM

Tuesday, August 07, 2007 6:35:52 AM

Post# of 46420
Its the absolute craziest I have ever seen it from the lending side. It looks like the industry is migrating back to either Full Doc loans or Hard/Private Money loans which will squelch a lot of investor loans (as most investors only want to go Stated Income). Even then, there are creative ways to structure loans to get deals done. In the 80's, we just had the seller hold the second mortgage before second mortgages became common...

Weird thing is that if you go Full Doc, lenders are throwing money at you to get loans done, LTV's above 100% and rates are around 6%...

Yesterday was a crazy day to be in the mortgage biz...

"Experience: that most brutal of teachers. But you learn, my God do you learn." C.S. Lewis
www.younglife.org

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