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fgrewe's comments:
on Home Buying
FHA Loans today are even more strict in underwriting than they were 10 years ago. I've been doing FHA loans for over 35 years, and have never seen such a tightening of guidelines. Don't kid yourself. FHA loans are not even close to subprime.
posted 2 years, 7 months ago
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on Home Buying
Treasury is setting aside $20 billion, plus another possible $15 billion, to pump into the State Housing Agencies. This will cost us more than the tax credits, and needs no congressional vote.
posted 2 years, 7 months ago
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on Home Buying
Smart! Does anyone really need granite countertops? Hopefully we've all learned the lesson.
posted 2 years, 7 months ago
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on Home Buying
I've been lending to first time homebuyers for 35 years now. I volunteer at the Portland Housing Center. The surge I have seen in first time homebuyers this year all mention that their motivation is driven first by the tax credit, secondarily by the low interest rates, and finally by the values. How, the inventory is very low right now, because no reasonable seller will compete with the bank owned properties that rule our marketplace. This is a problem for our "move up" buyers. I would welcome an extended and expanded tax credit so we could help those folks in the middle go back into the market. We need those folks who were first time homebuyers in the last 5-10 years to be incented to move up to really get our real estate market back on track.
posted 2 years, 7 months ago
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