Thursday, September 21, 2006

Capital Public Radio: "Bubble Burst?"

Listen to the archived program.

7 comments:

Lander said...

"Bubble burst? What is the state of the California housing market and should home owners be concerned? Today on Insight, local real estate experts tell you about current trends in the market and how some alternative mortgage options work."

KXJZ 90.9

Anonymous said...

same topic in this week's "Sacramento News and Review:

http://www.newsreview.com/sacramento/Content?oid=oid%3A200710

rocklin renter said...

Anonymous:

That article is fantastic.

I actually felt sick to my stomach for these people, but at the same time I want to go over there and slap them upside the head and say "what the hell were you thinking?"

PEOPLE: this is gonna get a whole lot worse before it gets better.

rocklin renter said...

Lander - I think that article is worthy of the front page....

Anonymous said...

Does the sleazebag mortgage professional (money pimp) have liability when selling the borrower an inappropriate loan.

What did they use to qualify the couple? Does not sound like normal underwriting procedures were used.

Anonymous said...

What did they use to qualify the couple?

Whatever it is, it's probably been run through the shredder by now. Sonoma Housing Blog has an eyewitness report of an industrial shredder van backed up to a mortgage lender office in Santa Rosa with trash cans full of papers being hauled to it...

tom stone said...

There were NO underwriting standards for several years.they are,at best, totally inadequate now. as far as disclosure to the borrower,all the terms and conditions are right there in front of them,when they sign.ethical loan brokers make sure to explain them to the borrowers up front,if the borrower will listen,and comprehend,they will frequently make an intelligent decision.IF.Too often it is "look man,just tell me how much i can get,and i want the minimum payment"for years,lenders and borrowers have been acting as though there was no risk involved in real estate,and even the current risk premium is absurdly low.i can get you a 100% 1 m i/o loan for an income property easily if you have a 650 or better score.this crash will be the financial equivalent of the somme.