It STARTED
 

I was leavung the house this afternoon when I got a call //// do you want this listing?????????/

[[FORECLOSED TODAY]]

3rd bank owned listing I,ve been haned in the last two months ,With a duplex coming next week .....I don,t go after B/O =big pain in the ass =but I,ll take them :::

Ya gotta wonder about the person that came up with the 80-20 ////100 /no money down mortgage ///

Then ya really gotta wonder about the investors that backed them :hang: :soon:

Where is that? Kind of looks like the Roger Williams park area.

How Much :hee: ?

The duplex;
is it side by side or up and down?

Banks were letting people have whatever they asked for and appraised units for more than they were worth to get the deals done, I expect we'll see a lot more of this in the near future. Good for the saavy, sucks for the guy who get's in over his head. Blame it on the BANKS:nailem:

yar a 1.5 east of the park

in the 450 range

the duplex came in a hour ago // side by side // tough location /good investment $ 198450


a real sweet ass little 2 level cottage a few hours ago /// 229800 walk to stripers & JOHNR & #^&#^&#^&#^&#^&#^&,S houses...

talk to me :uhuh:

Tell me about this Mike

T/T & F-18 ya both have my numbers // the duplex a investors delight ///////////////

Your busy season for work is when the striper fishing starts, I see a conflict here :nopain:

BOB========= not this year=wicked slow ///plus most people don,t look at houses between 8 Pm & 4 AM :uhuh:

ever show up in waders to show a house.

99.9% of my clients are on 80/20 100% these days. with the market the way it is no one turns them away.

BOB =nope But I have had the Boat behind the truck >>>>


SCL 99.9 % of you clients are 90% of the huge foreclosed inventory hitting the market :hs:

in 2 years not one of the properties i sold has foreclosed. you tell me that if a buyer comes around offering to buy one of your listings with 80/20 100% you're gonna tell your seller to say no thanks? of course not. we sell to those who want to buy if not success isn't possible

Surf -I,m not knocking your sales or buyers // sure I,ve sold plenty to 100% down buyers // what I,m saying is the XL amount of foreclosures is being helped by these buyers buying at the top of their approval & find its too tough // with no money invested & now no equity === they are walking by the hundreds // there is a agent in MASS. =right now carry 60 reo properties ////:read:

i know you weren't sorry if i came off like that, and i probably didnt convey my point like i wanted to either. what i meant was just there are so many of these folks out there now, that they really will account for more of the foreclosures just because they are buying most of the houses (at least around where i work) but yes, you're right they are at a much higher risk for foreclosure and even for problems before closing because as alot of the mortgage companies they are dealing with are only out to exploit them, i've talked to people that have recently purchased homes and payed 15,000+ for closing costs and not to bring something else into this but most of these people are immigrants getting exploited by people of their own native language

sorry to but in here but I dont think the 80/20 is the problem as much as "overbuying" is. That is the sad part.... we bought our first home (yes with the 80/20) a few years ago....we were pre appoved for OVER TWICE what we knew we could safely afford. I think too many see that as the go ahead. "well the bank will give it to me so that means I should be able to afford it".......NOT!