Life is going back to normal sooner than later?

If the banks can get rid of the bad loans, then they can start issue mortgages again. Subprime people will get a deal to stay in their homes, and there will be fewer foreclosures.

By the end of next year, subprimes issued in 2006 will be reset or refinanced, the subprime issue will be completely gone by then.

That said, the area I operate has record number of foreclosures this month. Will the surge suddenly stop because the last two days' news? We will have to wait and see, but in theory it should absolutely reduce the numbers significantly.

I hope life will go back to normal so that I can refinance my purchases. It is absurd for the banks not to finance a cash property at whatever LTV they want. I hope the six month holding period will be removed soon for cashout mortgages.

所有跟帖： 

• all excesses don't just disappear into the thin air, -summersun- ♀ (149 bytes) () 09/19/2008 postreply 10:02:31

• Agree. But right now it is going to another extreme. -cultuslake- ♂ (66 bytes) () 09/19/2008 postreply 10:05:50

• 100% agree we need normal life. Here is my random thoughts: -山高月小- ♂ (756 bytes) () 09/19/2008 postreply 10:20:13

• I can anwser 3) -cultuslake- ♂ (129 bytes) () 09/19/2008 postreply 10:24:59

• agree. Yeah, I do hope normality returns. -山高月小- ♂ (79 bytes) () 09/19/2008 postreply 10:31:24

• the foreclosure in DC area is reducing, the worst may be past -miat42- ♂ (278 bytes) () 09/19/2008 postreply 10:26:56

• Agree 2009 is a buying window. -cultuslake- ♂ (557 bytes) () 09/19/2008 postreply 11:12:08

• I sure hope things can wind down. Wish you best luck in financin -miat42- ♂ (0 bytes) () 09/19/2008 postreply 11:25:27

• Mortgage Servicing -Alt-A- ♂ (796 bytes) () 09/19/2008 postreply 12:16:11

• Thanks for the update. -cultuslake- ♂ (0 bytes) () 09/19/2008 postreply 13:26:16

• Cash out refinance -挨踢- ♂ (463 bytes) () 09/19/2008 postreply 18:09:39