haha, back then...

almost all the banks hold their own notes, so getting a mortgage is near impossible, many time, you need a co-signer, especially after the savings and loan fiasco, haha, that almost identical to Freddi and Fanni today, just much smaller scale...

mortgage to loan ratio is 27%, maximum all note payments to loan ratio is 33%...most of the loans are ARM, 30 year fix is near non-existent...

our first mortgage in 1987, 14% ARM, 5year adjustable.
our second mortgage in 1989, 9.5%, 2 year adjustable.
3rd mortgage 1992, 8.75%, 30 year fixed.
4th mortgage 1993, 7.875% 30 year fixed.
from 1993-2000, rate floats around 6.5-7.5%

the stated income or NINA, haha, didn't come along after 2000, that is when the market boom....

所有跟帖： 

• 你们认识的那个时候的人肯定不多，很多台湾人七八十年代都 -pigletto- ♀ (125 bytes) () 11/19/2010 postreply 20:43:45

• first mortgage in 1987，老华侨呀！ -柳眉儿- ♀ (0 bytes) () 11/19/2010 postreply 20:26:13

• haha.. didn't have any choice, I got dragged over... -jy101- ♂ (198 bytes) () 11/19/2010 postreply 20:51:35

• 前辈能不能谈谈利息如此走势的历史原因？ -zeeman- ♂ (0 bytes) () 11/19/2010 postreply 21:22:10

• JY兄才真的算是投坛的“老资格”地主：-） -如山- ♂ (46 bytes) () 11/19/2010 postreply 22:35:36

• wow! 14% ! how about car loan? -lkk1080- ♂ (0 bytes) () 11/20/2010 postreply 06:53:13

• haha, my first new car purchase... -jy101- ♂ (90 bytes) () 11/20/2010 postreply 08:04:09