Johnnyboy38109
Joined: 05 Oct 2006
Posts: 24
Location: Lexington, SC
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| Posted: Tue Sep 04, 2007 1:21 pm Post subject: Positive Factors to Consider in this “Crisis” |
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Consumers continue to rapidly outspend their income
Credit card debt levels are expected to increase
You can still get a fixed conforming in the high 5s and low 6s
You can still cash out Fannie/Freddie to 90% ltv
EA-III will, and effectively has, supplant the old subprime product
Reverse mortgage utilization is expected to skyrocket
There are still trillions in ARMs which will adjust in the next 2 years
My Community continues to perform…you can still get a good mortgage with a negligible, if any, down payment.
85% of the mortgage-procuring public is still FULL-DOC.
The finance companies are still booking deals at 12% first lien
I am seeing 12 and 13% deals closed by now non-existent wholesalers
There still has been no hammer yet on Bankrupts……..discharge dates on 7s, dates of filing on 13s….this is still a good market…..it requires caution, study, and care, but it can still be done if you know how to do it.
There is some discussion now of lowering requirements on FHA
Market nervousness has forced customers off the proverbial fence
Individual investors are wanting to rid themselves of notes……..this is a windfall……if you know where to get the information and how to market it.
Your competition is leaving the market in droves, leaving you with a great chance to be seen as a sage if you shake enough hands. |
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