• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Have you been turned down for a mortgage due to the housing implosion?

Originally posted by: TheGoodGuy
115K.. what kind of a house do you get for that??

you'd be lucky to get a house here for that much.
Click to expand...

California - check
Owns lots of expensive stuff via sig - check
Complaining about housing prices - PRICELESS.

To answer the question - I can't shake the countless offers off with a stick.
 
lots of houses in livonia mi for that kind of mortgage, with 20% down... i got a refi in about 10 minutes... but i have 20% down in the house, good credit, etc...
 
Originally posted by: TheGoodGuy
115K.. what kind of a house do you get for that??

you'd be lucky to get a house here for that much.
Click to expand...

That'd be a nice sized house where I live. Granted our cost of living related to every other major city in the US is by far the lowest... but still.
 
Originally posted by: TheGoodGuy
115K.. what kind of a house do you get for that??

you'd be lucky to get a house here for that much.
Click to expand...

The one I bought - $113K

I don't have the pics uploaded, but I found another house in the same area for $115K, one near a lake in a gated subdivision for $112K, and one with 1.5ac next to a pond for $108K.

They're building two casinos about a half-mile from here, so it should be a good investment. 😉
 
Originally posted by: joshsquall
Have you? I'm just wondering how realistic the statement that "it's so hard to get a mortgage now" really is.
Click to expand...

Relative to the way things were just a year ago? It's extremely realistic. But back then they were giving out loans to anyone who could fog a mirror. Now you need good credit, documented income, and a down payment. You'd think that's the way it always should have been, but hey...
Something else to note is that people who live in markets that weren't affected by the housing boom aren't going to see much direct effect from the housing bust.
 
Originally posted by: Vic
Originally posted by: joshsquall
Have you? I'm just wondering how realistic the statement that "it's so hard to get a mortgage now" really is.
Click to expand...

Relative to the way things were just a year ago? It's extremely realistic. But back then they were giving out loans to anyone who could fog a mirror. Now you need good credit, documented income, and a down payment. You'd think that's the way it always should have been, but hey...
Something else to note is that people who live in markets that weren't affected by the housing boom aren't going to see much direct effect from the housing bust.
Click to expand...

QFT!

If you have the proper income, history, etc you will have no problem getting a mortgage and purchasing a home within your means. But if you try to get a dumbass mortgage (aka, non-traditional or the new buzz word predatory lending), well maybe not.

I'll defer to Vic on what a dumbass mortgage is.
 
Originally posted by: Vic
Originally posted by: joshsquall
Have you? I'm just wondering how realistic the statement that "it's so hard to get a mortgage now" really is.
Click to expand...

Relative to the way things were just a year ago? It's extremely realistic. But back then they were giving out loans to anyone who could fog a mirror. Now you need good credit, documented income, and a down payment. You'd think that's the way it always should have been, but hey...
Something else to note is that people who live in markets that weren't affected by the housing boom aren't going to see much direct effect from the housing bust.
Click to expand...

yea, it's back to how it should've been all along.
just bought a 280K townhouse with 10% down. one bank tried telling me i could afford 400K and really should look higher. I guess the guy saw that Im in my 20's, have excellent credit, and am a first time home buyer and thought he could take advantage of me. So yea, some banks are still practicing predatory lending.

In other news, my wallet and my bank account are crying in the corner
 
Havent applied for a loan, but Im getting more credit card offers in the mail than ever. SIXTEEN last week, six in one day!
 
Originally posted by: Slew Foot
Havent applied for a loan, but Im getting more credit card offers in the mail than ever. SIXTEEN last week, six in one day!
Click to expand...

Hmmm, maybe you are getting the ones I used to get. The number of offers I get has dropped to maybe one a month. I don't know why really. Same job, same address, same spending/saving habits. Maybe having kept the same card for years finally made the issuers realize they were wasting money sending me junk mail.
 
Originally posted by: 2Xtreme21
Originally posted by: TheGoodGuy
115K.. what kind of a house do you get for that??

you'd be lucky to get a house here for that much.
Click to expand...

That'd be a nice sized house where I live. Granted our cost of living related to every other major city in the US is by far the lowest... but still.
Click to expand...

Yeah same here. In fact, where I live there is a 5 year old, 1800 Sq. foot house on 3.5 acres for 69k.

The downside is, it's about 15 miles to the closest anything. 🙂
 
Originally posted by: Mojoed
Originally posted by: 2Xtreme21
Originally posted by: TheGoodGuy
115K.. what kind of a house do you get for that??

you'd be lucky to get a house here for that much.
Click to expand...

That'd be a nice sized house where I live. Granted our cost of living related to every other major city in the US is by far the lowest... but still.
Click to expand...

Yeah same here. In fact, where I live there is a 5 year old, 1800 Sq. foot house on 3.5 acres for 69k.

The downside is, it's about 15 miles to the closest anything. 🙂
Click to expand...

F'n CA

This is what a million bucks gets you, a beat up house with an algae filled pool.
 
Originally posted by: Slew Foot
Originally posted by: Mojoed
Originally posted by: 2Xtreme21
Originally posted by: TheGoodGuy
115K.. what kind of a house do you get for that??

you'd be lucky to get a house here for that much.
Click to expand...

That'd be a nice sized house where I live. Granted our cost of living related to every other major city in the US is by far the lowest... but still.
Click to expand...

Yeah same here. In fact, where I live there is a 5 year old, 1800 Sq. foot house on 3.5 acres for 69k.

The downside is, it's about 15 miles to the closest anything. 🙂
Click to expand...

F'n CA

This is what a million bucks gets you, a beat up house with an algae filled pool.
Click to expand...

:Q ^^

Edit: Oh and I forgot to mention, that 69k house I mentioned above is on a secluded lot with an amazing mountain view. 🙂
 
Originally posted by: Slew Foot
Originally posted by: Mojoed
Originally posted by: 2Xtreme21
Originally posted by: TheGoodGuy
115K.. what kind of a house do you get for that??

you'd be lucky to get a house here for that much.
Click to expand...

That'd be a nice sized house where I live. Granted our cost of living related to every other major city in the US is by far the lowest... but still.
Click to expand...

Yeah same here. In fact, where I live there is a 5 year old, 1800 Sq. foot house on 3.5 acres for 69k.

The downside is, it's about 15 miles to the closest anything. 🙂
Click to expand...

F'n CA

This is what a million bucks gets you, a beat up house with an algae filled pool.
Click to expand...


:laugh: at that pic of the pool
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top