Who is having trouble getting financing for 4500/5500?

[Regcabguy]

Congrats!

Congratulations on securing your loan. Between now and delivery time save as much as you can and lay down a substantial amount while leaving safe reserves in liquid savings for a rainy day. Best of luck with the new one!

 

[JR2]

There has got to be a stick in the wood pile somewhere. I would start trying to find it and get it corrected. I have a son in law well up in the eTrade management and this interest rate mess is going to continue until about 2010.



BIG firms are eating BILLIONS of $$ of these bad subprime loans. Watch what happens in July when the problems of the first half year HAVE to be disclosed. You better grab you butt with both hands and hang on. The subprime's are packaged into 4 years of below standard payment groups. We are seeing the 2005 group right now. The 06 group is bigger, the 07 group is bigger yet.



Wait until mid 09 to mid 10 to refinance. The mortgage brokers are trying as hard as they can to hold rates up in the 5. 5 % + range, but will not be able to hold those rates that high after about jan of 09. There is way to much inventory out there (both homes and hard goods (vehicles, appliances etc)). Production has just about dried up. Here in FL homes that were selling for $230k are not moving at $160k (down about 1/3). New subdivisions that have 100 homes built have fewer than 10 lived in. It is going to get a LOT worse before it gets better. Get to as little debt as you can as fast as you can, it is time to reign in the spending and batten down the hatches.



my . 02



Bob Weis

Sock a bunch of $$ away, wait till the bottom... buy up houses at ridiculous discounts... Get Rich. Watched it happen here in AK when I was a teenager (mid 80's)... . now waiting for another year or so to start buying...