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Mortgage Market Reopens To Risky Borrowers

 
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Old 08-21-2019, 07:37 PM   #1
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Mortgage Market Reopens To Risky Borrowers


“Strict lending requirements that were put in place after financial crisis are starting to erode”



https://www.wsj.com/articles/mortgag...rs-11566379802
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Old 08-21-2019, 07:43 PM   #2
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Re: Mortgage Market Reopens To Risky Borrowers


Let the good times roll baby

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Old 08-21-2019, 09:31 PM   #3
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Re: Mortgage Market Reopens To Risky Borrowers


what could possibly go wrong?
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Old 08-22-2019, 06:56 AM   #4
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Re: Mortgage Market Reopens To Risky Borrowers


I guess we didn't learn a thing last time?
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Old 08-22-2019, 12:06 PM   #5
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Re: Mortgage Market Reopens To Risky Borrowers


Awesome. Hopefully I can make a bunch of money but spend more than I made just like last time.
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Old 08-22-2019, 12:28 PM   #6
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Re: Mortgage Market Reopens To Risky Borrowers


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Awesome. Hopefully I can make a bunch of money but spend more than I made just like last time.
Solid planning right there.
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Old 08-22-2019, 12:36 PM   #7
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Re: Mortgage Market Reopens To Risky Borrowers


..and the easy money dumbphuckery begins again
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Old 08-22-2019, 02:36 PM   #8
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Re: Mortgage Market Reopens To Risky Borrowers


Knowing now what I do about the foreclosure process and how long it actually takes for a bank to take your house, I think I'll buy the most expensive thing they're dumb enough to let me sign for. From that point, I'll have almost two years to figure out how to pay for the house I just stole before they boot me.

Eric, I have a joint venture in the Hamptons you might be interested in.
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Old 08-22-2019, 04:46 PM   #9
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Re: Mortgage Market Reopens To Risky Borrowers


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Knowing now what I do about the foreclosure process and how long it actually takes for a bank to take your house, I think I'll buy the most expensive thing they're dumb enough to let me sign for. From that point, I'll have almost two years to figure out how to pay for the house I just stole before they boot me.

Eric, I have a joint venture in the Hamptons you might be interested in.
If there's any way that driving a Range Rover can be rolled into this, I'm listening.
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Old 08-22-2019, 07:10 PM   #10
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Re: Mortgage Market Reopens To Risky Borrowers


Will it be like last time? Where prices went into the stratosphere for ramshackles? Where if you buy now and do a little doll-up and some schmuck comes along pre approved for double what you paid?.......Nice

IDK I think those days are gone forever....sure was fun while it lasted. I had more open lines of credit than the law allowed
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Old 08-22-2019, 07:18 PM   #11
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Re: Mortgage Market Reopens To Risky Borrowers


The bottom line is, they wouldn't be doing it again if they didn't smell $$$$$$.
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Old 08-22-2019, 07:26 PM   #12
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Re: Mortgage Market Reopens To Risky Borrowers


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The bottom line is, they wouldn't be doing it again if they didn't smell $$$$$$.
For some. Others take the mother of all hits when the bubble bursts.

I know a few properties that have never recovered their inflated value from last time 550k paid in 2006 still sitting at 300k and some change today
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Old 08-22-2019, 07:59 PM   #13
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Re: Mortgage Market Reopens To Risky Borrowers


I don't think people understand that there was a ,"nonconventional " loan portfolio that allowed for liar loans but they were covered because you needed 20% into the purchase. The lender was covered.

The stupid thing is that fannie/Freddie decided they would do the same thing, but they only used credit scores! That was their be all end all!

So Fannie/Freddie decided to take it mainstream with 5% down. It could also be gifted-no skin in the game.

**** went sideways in a hurry!
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Old 08-22-2019, 08:07 PM   #14
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Re: Mortgage Market Reopens To Risky Borrowers


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Originally Posted by EricBrancard View Post
If there's any way that driving a Range Rover can be rolled into this, I'm listening.
Range rover is a **** vehicle.

One of my clients has 3. He kept his '07 because his '16 and '19 suck ass. He loves vehicles and his wife loves range rovers and he hates them. He loved his '07 and bought 2 more since, because he liked it so much. Swears he'll never buy another and this dude is crazy about working on vehicles, it's pretty much all he does for a hobby.

I mean, they're nice but for the price tag I can think of several SUV's I'd rather have. Hell, I really like the infiniti's. You could buy a killer new expedition when they come out, which I would much rather have than the range rover....

Step your game up son!
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Old 08-22-2019, 09:58 PM   #15
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Re: Mortgage Market Reopens To Risky Borrowers


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Range rover is a **** vehicle.

One of my clients has 3. He kept his '07 because his '16 and '19 suck ass. He loves vehicles and his wife loves range rovers and he hates them. He loved his '07 and bought 2 more since, because he liked it so much. Swears he'll never buy another and this dude is crazy about working on vehicles, it's pretty much all he does for a hobby.

I mean, they're nice but for the price tag I can think of several SUV's I'd rather have. Hell, I really like the infiniti's. You could buy a killer new expedition when they come out, which I would much rather have than the range rover....

Step your game up son!
You couldn't give me an Infinity. Comparing an Infinity to a Range is like comparing a hang glider to a Global Express. Stepping up from a Range Rover means going to the Rolls/Bentley/Lamborghini SUVs.
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Old 08-23-2019, 05:27 AM   #16
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Re: Mortgage Market Reopens To Risky Borrowers


I always thought the brits make horrible cars.
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Old 08-23-2019, 05:47 AM   #17
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Re: Mortgage Market Reopens To Risky Borrowers


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You couldn't give me an Infinity. Comparing an Infinity to a Range is like comparing a hang glider to a Global Express. Stepping up from a Range Rover means going to the Rolls/Bentley/Lamborghini SUVs.
You see the Lambo SUV? It's a complete turd. Utter fail (edit... maybe a slight over statement, but it sucks for the money). Range Rovers are everywhere now. It screams, not quite rich but wanna hang with that crowd.

Rolls and Bentleys... cant argue with that at all.

Last edited by Deckhead; 08-23-2019 at 05:54 AM.
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Old 08-23-2019, 07:17 AM   #18
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Re: Mortgage Market Reopens To Risky Borrowers


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You couldn't give me an Infinity. Comparing an Infinity to a Range is like comparing a hang glider to a Global Express. Stepping up from a Range Rover means going to the Rolls/Bentley/Lamborghini SUVs.
I did see a Maserati SUV near my clients house today. That thing looks badass.

The Bentley I saw was blacked out, it was way cool looking. The Lambo was blah compared to the others.

Why did Range Rovers get so popular over the last 5 years? 10 years ago they were here but not super common. Now everyone within 5 miles of the beach has at least one. I personally dont like the new ones all that much. My client hates the fact they've become this status symbol around here that you pal around with the people who can afford the rolls and bentleys but arent at that level.
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Old 08-23-2019, 07:51 AM   #19
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Re: Mortgage Market Reopens To Risky Borrowers


Has to be something wrong with the system----these morons have lent me money....

If I can't get another Ex, a simple Explorer will do.

Tom
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Old 08-23-2019, 08:36 AM   #20
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Re: Mortgage Market Reopens To Risky Borrowers


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I did see a Maserati SUV near my clients house today. That thing looks badass.

The Bentley I saw was blacked out, it was way cool looking. The Lambo was blah compared to the others.

Why did Range Rovers get so popular over the last 5 years? 10 years ago they were here but not super common. Now everyone within 5 miles of the beach has at least one. I personally dont like the new ones all that much. My client hates the fact they've become this status symbol around here that you pal around with the people who can afford the rolls and bentleys but arent at that level.
That Maserati SUV uses shared interior components with entry level dodge products. Not even in the same universe as the Lambo. My friend had one and while it’s “nice,” it’s not compatible to a Range. The Range is one of the nicest vehicles money can buy. The top options package hits around $200k. If a lot of people are driving them now, go take one for a spin and see why. There’s plenty of people who can afford Rolls or Bentley that drive them.

Toyota Land Cruiser is the way to go for that subtle flex.

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