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Some lenders have an appetite for certain loan programs. For example, Wells does not offer the 203k loan - an FHA insured loan. Neither does my company (famous for their cartoon dog spokesperson). Although the Government insures the transaction, the cost and hassles involved with certain loan...

Our 2004 loft ran close to $20k (18x12 more or less). Today, our neighbors have had quotes in the $12k range. The thing you have to watch out for is access. Stairs have to be structured in a certain way in order to pass inspection. We learned this at the -0- hr from our contractor which...

Whoaaa there lil' doggie, not so fast! FHA is an insurance program, not a loan program. Just because HUD says it's possible does not mean lenders are going to accept the guidelines and close anything with this kind of scenario. Also, in OC with a median of $350k (+/-) the 3.5% down is...

Buy and bail is easily prevented today what with guideline changes. Almost every week I get calls from people asking if it's OK to walk away from their home, even though the payment is affordable. Nothing was ever a firm commitment today. Also, the "I don't report my income... so why...

So, thanks to the Intarweb I found out there is a National Kool-Aid weekend planned for the second week in August. <a href="http://www.kool-aiddays.com/">http://www.kool-aiddays.com/</a> Might we co-opt this celebration of all things refreshing and use it for our own nefarious...

How about picking an upcoming weekend and designating it as a "National Kool-Aid" Day. IHB minions go and visit what Open Houses appear to be WTF priced. Leave a packet of Kool-Aid somewhere in the house for either the seller or the Agent to find. You get to see some nice houses, albeit...

I forgot another one: Lowering the list price of a home is now called a "Price Improvement" as in "My 1.2m property had a $500k price improvement today. The new list price is $700k" SGIP

70 is about average from WF, Chase, and most Credit Unions. US Bank will go higher, but you've got to get a USB 1st TD. My .02 SGIP

Other than the usual "buy now before prices go up", what is your favorite 'Tard-speak" nugget of market knowledge? The more intense the kool-aid strength the better. Don't reference who said it, but try and share with the forum real time examples of what Agents are saying out there...

Your friend needs to find another lender. The 4 property limit rule went out about 60 days ago. You can have unlimited non-owner properties now. Some lenders have limits on how many loans to one borrower (ours is 4, any combo owner/non-owner). My .02 SGIP

Generally speaking, if you've claimed a mortgage interest deduction you are not considered a first time home owner. Every program has unique issues with ownership definitions.

Perhaps it's just me, but I can't stand the term "Victim" in this whole debate. Were there people who were taken advantage of? Out of 100 - I'd guess 5. Were there people who swallowed bad advice from "professionals" who should have had their info double checked before taking the plunge...

A Realtor I work with has an offer in on a bank owned property in RSM. The asset manager has asked for a new Brokers Price Opinion because they feel prices have stabilized if not risen for this property in the past 30 days. I have one word for this: HA! What may have happened for...

Starter Home - nice avatar. I saw The Wall concert at the Forum in LA. Shows how old I am... but I digress. The problem is disclosure. I've not allowed my agent to broadcast my bottom line. As long as I didn't start out at WTF pricing, the $10k tip o the hat to the buyers agent for...

I don't disagree with the need for speed, but if my house has been on the market a week and my 'tard gives my $10k away simply to move the home along, I've not been well served. That behavior is the rule rather than the exception in slower markets. This also assumes that I did not WTF price it...

I agree completely with getting undue influence out of the appraising business. HVCC does this to some extent. The regulations are vague and overreaching. In some cases (closing table states) HVCC is not an issue. In Escrow states (Cali for one...) it's a bigger deal. You do get a copy of...

If you first shop your loan professional, not the rate or the fees per se, that will be your best path. Most loan professional's rates and fees are within .125 (r) and $500 (f) respectively. Because you have settled your lender question first, the likelihood of a loan denial or appraisal issue...

I've seen several instances where the listing 'Tard will say "Oh, the list price is $575,000, but I know they'll take $560,000" to the buyer or buyers 'Tard. As if by magic a $555,000 offer gets put in, and is negotiated - if you can call it that - to $560k. The listing agent will bleat...

Banks holding REO's are loath to pay closing costs. Rarely will they pay but you've often got to go with their own lender choice. They are the market currently and that's what I've seen. Agents will take a full price offfer with closing costs to be paid. The question then is "will it...

Q.1 - What metrics/tools did you use to arrive at the price for this home? Q.B - When can I meet with you and the seller face to face to go over some questions about the property? Q.III - I'm interested in making an offer. Can you refer me to a good buyers Agent from a company other than...