MDA - Market Direction Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Jacob Snyder who wrote (29398)	10/13/1999 8:19:00 PM
From: TimbaBear	Read Replies (1) of 99985

OT I absolutely agree that lending standards have gotten much looser....I got somebody approved yesterday for a stand alone 2nd mortgage that will allow up to 90% LTV on cash/out refinance on a double-wide mobile home on 10 acres....the kicker is that this person had a bankruptcy discharged in 1/98....I could get this person a 9.625% fixed rate....amazing!.....and no, the money was not to play in the market <ggg>....it is to buy another mobile home to put on the land. In 1991, it was very hard to get mobile homes financed at all; I definitely couldn't have gotten any form of stand alone 2nd; and if I could have gotten a cash/out refinance done, it would have been limited to 75% of value; but, most importantly, this person's credit history would have been an automatic disqualification for several more years. Times have changed....easy credit rules....and I wouldn't buy any mortgage backed securities from the "sub-prime" lenders.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next