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My company has a 52% debt to income ceiling. You can close with that high of a DTI as long as the deal makes sense - like for like payment, good cash reserves, etc. Out of 100 submissions 1-2 might pass that test. Unused lines of credit are not counted in DTI calculations. When my...

That douche Slade must have one like a baby's arm holding an apple. Either that or roofies. I can't reason the phenom about this guy any other way. My .02c Soylent Green Is People.

You'd have to look up the advertising that was ran with the program, then cross check it with the title exchanges of the properties. I wish I had that kind of time to look it up out of sheer curiosity. The Lee Ann Canaday auctions are pretty interesting. One home at $5,999,000 (MLS 584304)...

McM ran one of those "your listing will sell in 90 days (or so)" hoo-ha's which required the agent to buy out the seller, or make them whole in some manner... I'm guessing that one or more of those deals went sideways which is why the interest in renting. Theoretical, but that's my guess...

Because this Agent sends a referral every so often. I'll accept the BS along with the buyers any day. His perspective is pure cane sugar + Kool Aid mixed. Besides, his stuff is the best example of comedy gold I get from the Agents I work with. It's a sacrifice, but I do this, for...

To paraphrase: "Witness the power of this fully operational battle sta...kool-aid dispenser" :-) "Welcome to the Sellers? Market! Yes I know that is hard for many to believe and it certainly doesn?t ?feel? like a Sellers? market if you purchased your home this century. But...

I work quite a bit with Redfin. Some follow up: 1) The rebate is not a taxable event. This has been thoroughly reviewed by IRS. 2) RF is really for those who want to do almost all the work themselves up until the point of contract writing. 3) If you come up with a list of...

A better perspective on that report from a non-MSM source. http://www.ritholtz.com/blog/2009/08/ziprealty/ My .02c Soylent Green Is People

If you want to by hyper technical, impound accounts pay a mandated 2% interest on the cash they hold. In this market that's a bonus. From blog post comments - an "A" version for buyers and a "B" version to be submitted with buyers offer, addressed to the seller, I believe will help those...

I get an industrial strength Kool-Aid email from one of my Realtor contacts. He's always good for a super quote! 1)<em> "Demand and a lower inventory, the Market has heated up. The expected Market Time for all of Orange County is currently at 2.5 months, a <strong>Sellers? market.</strong>...

I'm an OC native (St. Joe's Hospital - Orange, class of 1961). Grew up in Laguna Beach, and have lived in RSM since 1990. Yes it's hot and sometimes its very cold during the winter. True 4 seasons up there. Most of the homes you find up there have reasonable yards (4-6000sf). The HOA isn't that...

It's actually worse than my original post. "Of the 62,500 modifications started from January through March 2009, only 137 had a principal reduction completed. The rest were rate freezes or temporary rate reductions with any missed payments added to the loan balance. From the California...

Had seen a stat in June that looked over Q1 modifications. Of the 33k or so performed about 63 had principal reductions. Most of the mods were of the "extend and pretend" type which is why the failure rate is so high on these mods. Wish I had the source of that data point. If I can find it I'll...

Had any of these writers warned about the peak of the housing bubble in real time, I'd consider what they are saying. More likely than not they discovered the housing bubble a year late which indicates to me based on their past performance we are a year away from the bottom. Even if this...

Has anyone actually seen or heard of a legit 3rd party modifying service? Not by brother's mother-in-law's hairdresser heard on one, but a real first hand situation? True success stories appear to be as elusive as both the Yeti and the Chupacabra (my word of the week!) My .02c Soylent...

House voted on it. Senate has yet to, then off to the President for signing. It's a done deal. Next comes the extension of unemployment benefits due to expire in September, then the re-authorization of the 1st time home buyer credit which expires late November. My .02c Soylent Green Is...

For a credit of that size to work, you'd need either an equity or capitulation seller who has 10% to give away or a sales price and an appraisal high enough to support that kind of credit. The first scenario is as rare as a jackalope. The second scenario should be avoided like the Chupacabra...

Original financing was a construction loan taken out in 2006 for 1.28m through WAMU. It could have been an Option ARM but thats speculation only because of available data. The agreed SS amount was in the upper 9's. The SS agreements still say WAMU, not Chase which was unusual. Soylent Green...

The key is "approved short sale" versus a "here's an offer, lets see what the bank says" short sale. I closed a transaction this past week where the SS was approved, a slightly lower offer was made, the bank took 18 days to review and accept - 30 day close thereafter. That's fast! Some of...

I would view banks as any other publicly traded company. They report earnings by quarter. Right now they see "pent up demand" (I hate that term BTW) in the multiple offers they get for every low priced REO they've got. As the end of quarter or end of year comes, more homes will be dumped to a...