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"(the) bidding wars, already erupted...hmmm!" Very Yoda'esque. Many of the 'Tards I work with have been speaking in whispers about how quick and how much shadow inventory they are expecting to come on the market in the next 90 days. There is a bit of fear in their tone as they discuss this...

Actually the fees are about in the middle. When I was at a large, San Francisco based TARP recipient bank, their fees ran around $1200 without the appraisal. When I worked at a broker shop and sent a loan to that same bank, their net lender fees were $800. Mine were $600 so still within...

Most 2nd TD (bag) holders are completely hosed anyway. More stimulating stimulus that isn't all that helpful. No one is taking on the mortgage elephant in the room: the non-fannie/freddie loans that aren't being modded or refinanced out into lower loans. All of those "stated-stated"...

The Government tries to set interest rates but market forces will overwhelm its ability to keep an artificial low in place. The 10 year T has risen, despite Fed/Treasury intervention. The fabled sub 4.0% 30 year fixed rate isn't here even with significant MBS purchases by the Treasury. Yields...

The late 70's, early 80's inflation tonic was high interest rates. That rate policy drove home prices straight downward. Our 2010 on rate direction will be higher simply because our vast debt cannot be refinanced at yields high enough to attract capital. European rates will go higher and so will...

Anything on 33 Coriander? I'm structuring a refi in the area and curious about the comparable. SGIP

Having gone through an upswing market, I'm not sure which is more unpleasant - losing money in this down market or wading through multiple offer, unreasonable seller, kool-aid swilling, 'tards speaking about how you've got to buy now before prices go higher, environment. :-) It's nice to...

I do agree with the Peaker and Trougher analysis. Time and the numbers in context favor the example. Most bears believe a floor is coming between 2011 and 2012. Assuming it's 2012, thats roughly 3 years worse case away before some stability returns. It could be 2 years which relatively...

That $3300 figure is theoretical money. If your property loses 10% and you don't sell, you've lost 10% of theoretical cash. Try to spend that theoretical cash at a the Royal Hawaiian Resort. They'll throw you out onto your real behind!

I'm not pushing for anyone buy, but at some point in time risk has to be taken. Sure, a person could lose their job or have some other catastrophic event come along. That's going to happen no matter if you're an owner or a renter. Life is a risk, isn't it? You can't plan around every single...

Perhaps my story can give you some perspective. When I closed on my new construction condo (Dec, 1990) I knew full well I was doomed. Within 6 months my property value was about 1/2 of what it was. The builder stopped construction on the remaining 3rd of the development. It was pretty grim...

I'm no fan of the 'Tards, but asking if there are kids on the neighborhood can be a Fair Housing issue. I'd pass on answering it myself. An outgrowth of our lawyer infested society. My .02 - SGIP

764 days in Dana Point - per SouthOCTracker blog. http://www.redfin.com/CA/Dana-Point/27072-Calle-Dolores-92624/home/5001580 These are known as "Career Listings" per the 'Tard's that have them. My .02 - SGIP

Depends somewhat regarding the unwinding of the retail store. If sold, no issue. If BK'd - trouble. That is likely the first question from an UW. Second question - are you straight salary or salary, plus bonus. Straight salary A-OK. Salary, bonus...no can do. A person who switches careers then...

Concur on rolling fees into the loan. Some questions - Are you at the closing table, or simply getting quotes? If you're getting quotes $100 for escrow seems pretty slim. There also aren't any notary costs shown. Also, how long is the rate lock for? Pretty much everybody is...

Don't think we are anywhere near the bottom and that prices are stabilizing. With the foreclosure moratoriums passing and defaults rising at the upper end, prices will only be declining. They won't fall to zero, but they aren't going to rise due to "pent up demand". An example of pricing...

Most 'Tards are - as one person put it - the greatest collection of C grade students ever assembled. Every so often there are diamonds out there. How do you find one? First, when you say "South County" does that mean South of the Y, South of Alicia Parkway, or South of the Dana Point...

Thanks for the high complement. I got a degree in film writing from Chapman University, but found I was a crappy Waiter. Without any alternatives to support myself I began a career in mortgage banking. :-)

There isn't a rate or fee difference between a 3.5 and 5% down FHA FHA Monthly Mortgage Insurance is about .55% of the loan ($300k = $137 per month) Conventional Private Mortgage Insurance is about 1% of the loan ($300k = $237 per month). This assumes you can even get PMI in OC with...

If the purchase is a Condo, expect .75 in fee from Fannie Mae. A short matrix on credit scores 75 - 80% LTV 720-739 FICO .25 in fee 75 - 80% LTV 700-719 FICO .75 in fee 75 - 80% LTV 680-690 FICO 1.50 in fee So with 20% down and superb...