Securty Based Lending
An opportunity for people with large stock portfolios to convert their equity to cash for any purpose, at below market interest rates, generally 2.5% to 4.5%. Superior to margin loans these loans provide up to 80% of valuation. 7-10 business days to funding, no credit checking or reporting, fixed interest for 3-5-7-10 year terms, these loans provide a vehicle for a sharp investor to free up cash to take advantage of buying opportunities in the current real estate market. $100,000 minimum with no maximum. If you wish to explore this opportunity, call. 530-824-8284.
Foreclosures continue to plague the market, but the real psychological impact on home sales comes from the inverted equity positions of home owners. Over 30% of Californians are reported to owe more on their mortgages than the value of the home. Deutsche Bank is predicting that nationally 58% of mortgage holders will be in a negative equity position. Couple that with the estimate that over 12% of mortgage holders are at least 30 days late and the picture is bleak indeed. Foreclosure Radar describes this as "trapped in a prison of debt". Can't sell, can't refinance.
Lenders are NOT making it easy to get a loan for purchase or refinance. Good people are being kicked to the curb for not fitting "inside the box" and lenders are unwilling or unable to consider exceptions. Fortunately their are still some portfolio lenders who will make sane underwriting decisions, and if you have been disadvantaged by a Fannie/Freddie decline you should call us.
Retail sales are down, and no wonder. Three billion dollars of tax dollars given to the auto industry by way of the Cash For Clunkers program has burdened a large number of people with car payments at a time when discretionary money was already in short supply. Congress can not learn the laws of unintended consequences. Nor can they absorb the fact that neither they nor bureaucrats are capable of running any type of business enterprise. For those who are wearing rose colored glasses its time for a reality check. We are increasing our debt at warp speed, and no end in sight apparently. Job creation is entirely restricted to government work, a non productive part of the economy and a further drain on resources. The administration is under the control of people who have never run so much as a candy store, and they flounder around compounding the error of thinking transferring wealth from productive people to unproductive people will somehow buy our way out of this mess.
Not going to happen.
As usual
Thanks for visiting.
Foreclosures continue to plague the market, but the real psychological impact on home sales comes from the inverted equity positions of home owners. Over 30% of Californians are reported to owe more on their mortgages than the value of the home. Deutsche Bank is predicting that nationally 58% of mortgage holders will be in a negative equity position. Couple that with the estimate that over 12% of mortgage holders are at least 30 days late and the picture is bleak indeed. Foreclosure Radar describes this as "trapped in a prison of debt". Can't sell, can't refinance.
Lenders are NOT making it easy to get a loan for purchase or refinance. Good people are being kicked to the curb for not fitting "inside the box" and lenders are unwilling or unable to consider exceptions. Fortunately their are still some portfolio lenders who will make sane underwriting decisions, and if you have been disadvantaged by a Fannie/Freddie decline you should call us.
Retail sales are down, and no wonder. Three billion dollars of tax dollars given to the auto industry by way of the Cash For Clunkers program has burdened a large number of people with car payments at a time when discretionary money was already in short supply. Congress can not learn the laws of unintended consequences. Nor can they absorb the fact that neither they nor bureaucrats are capable of running any type of business enterprise. For those who are wearing rose colored glasses its time for a reality check. We are increasing our debt at warp speed, and no end in sight apparently. Job creation is entirely restricted to government work, a non productive part of the economy and a further drain on resources. The administration is under the control of people who have never run so much as a candy store, and they flounder around compounding the error of thinking transferring wealth from productive people to unproductive people will somehow buy our way out of this mess.
Not going to happen.
As usual
Thanks for visiting.
posted by Douglas Doss | 9:56 AM
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