Mish's Global Economic Trend 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 : Mish's Global Economic Trend Analysis

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: BubbaFred who wrote (27198)	4/9/2005 1:29:04 PM
From: mishedlo	Read Replies (2) of 116555

From Splotto - A homebuilder on the FOOL I was out shopping on of our rivals communities yesterday and I had to laugh at the exchange I witnessed. Please note that I don't think this is limited to our rivals...I am sure it's going on all over. An appraiser came into the sales office to talk with the sales person. It's is usual to do this when someone in the community is refinancing or someone is buying a resale. The sales staff will give the appraiser sales prices an option lists for similar models in the communitity as 'comps' for the appraisal. Turn out that the loan in question is a HELOC for a home that closed a month ago. They are applying for a 125% HELOC. They had financed 100% of the home at purchase. Turns out the home buyer needs about 100k to decorate the home (on top of the 800k they paid for the house). They are also looking to buy a new car. Splotto

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next