Comments on: The Subprime Effects on Your Mortgage Loans http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/ A site to share my tips, tools, and humble thoughts on the journey to wealth Sun, 02 Oct 2011 19:26:45 +0000 hourly 1 http://wordpress.org/?v=abc By: Charlie http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/comment-page-1/#comment-3313 Charlie Wed, 19 Sep 2007 10:09:29 +0000 http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/#comment-3313 You guys heard Alan Greenspan on 60 minutes - Same trend expectation - The FED will have to eventually raise interest rates. Not immediate, but not more than 5yrs from now - Otherwise, we will have some problems.... and he mentioned China being the catalyst of high Inflation in the US. Now he's starting to talk my language.... You guys heard Alan Greenspan on 60 minutes -

Same trend expectation – The FED will have to eventually raise interest rates.
Not immediate, but not more than 5yrs from now -

Otherwise, we will have some problems….
and he mentioned China being the catalyst of high Inflation in the US.

Now he’s starting to talk my language….

]]> By: Charlie http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/comment-page-1/#comment-3168 Charlie Fri, 10 Aug 2007 08:01:47 +0000 http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/#comment-3168 ARM borrowers don't realize that if rates go from 6% to 8%; that's a 30% increase in rates and what they have to pay out. Furthermore, the new homeowners/borrowers will not be able to pay 30% more on already inflated prices - prices will need to come down further. Frugal - I really appreciate your website and what it teaches; there are only a few out there that is really educating us. Charlie ARM borrowers don’t realize that if rates go from 6% to 8%; that’s a 30% increase in rates and what they have to pay out.

Furthermore, the new homeowners/borrowers will not be able to pay 30% more on already inflated prices – prices will need to come down further.

Frugal – I really appreciate your website and what it teaches; there are only a few out there that is really educating us.

Charlie

]]> By: MrMike http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/comment-page-1/#comment-3167 MrMike Fri, 10 Aug 2007 04:03:07 +0000 http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/#comment-3167 I was a construction loan officer in '94. Comparing rates then and now is night and day. When you compare rates over the last 30 years, they're still reasonable now. http://mortgage-x.com/trends.htm Of course, its all relevant, and that .125 is pretty important when it's your money! I was a construction loan officer in ’94. Comparing rates then and now is night and day.

When you compare rates over the last 30 years, they’re still reasonable now.

http://mortgage-x.com/trends.htm

Of course, its all relevant, and that .125 is pretty important when it’s your money!

]]> By: Charlie http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/comment-page-1/#comment-3163 Charlie Thu, 09 Aug 2007 11:05:27 +0000 http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/#comment-3163 Frugal/all - I'm making it public and standing my ground. I remain confident that Rates WILL TREND UP in the near future, not down. They (the FED) are waiting to do this at the right time. Hint - Chinese currency Charlie Frugal/all -

I’m making it public and standing my ground.

I remain confident that Rates WILL TREND UP in the near future, not down.

They (the FED) are waiting to do this at the right time.
Hint – Chinese currency

Charlie

]]> By: Mike http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/comment-page-1/#comment-3156 Mike Mon, 06 Aug 2007 18:30:53 +0000 http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/#comment-3156 Frugal, I took a JUMBO loan 5/1 ARM @ 5.875%. The plan was to drop the loan amount down to $400k after 5 years which is in the NON-jumbo category. This means I get slightly better rates(I'll keep my fingers crossed) since in 5 years, my loan is already a NON-jumbo. I noted your comment that rates will not look good in future... I'll just have to wait it out and see. Frugal,
I took a JUMBO loan 5/1 ARM @ 5.875%. The plan was to drop the loan amount down to $400k after 5 years which is in the NON-jumbo category. This means I get slightly better rates(I’ll keep my fingers crossed) since in 5 years, my loan is already a NON-jumbo.

I noted your comment that rates will not look good in future… I’ll just have to wait it out and see.

]]> By: Frugal http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/comment-page-1/#comment-3153 Frugal Mon, 06 Aug 2007 08:22:38 +0000 http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/#comment-3153 Priya, I expect the home prices to reach bottom NOT before mid-2010 or later. Mike, Did you get that for 30-year fixed? I guaranteed you that you probably won't find a better deal than yours in the next 10 years, even after Helicopter Ben lower the interest rate back to 1%. The entire yield curve is going to steepen more. Priya,
I expect the home prices to reach bottom NOT before mid-2010 or later.

Mike,
Did you get that for 30-year fixed? I guaranteed you that you probably won’t find a better deal than yours in the next 10 years, even after Helicopter Ben lower the interest rate back to 1%. The entire yield curve is going to steepen more.

]]> By: Mike http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/comment-page-1/#comment-3145 Mike Fri, 03 Aug 2007 20:59:38 +0000 http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/#comment-3145 Hi Frugal, Thanks for your tip last time; it was your reference that helped me get a jumbo loan @ 5.875%. I went with Absolute Mortgage. It was only 3 mths or so ago that I asked you for your help. The interest rates really have moved upwards so quickly. Thanks for you advices. I love your blog! Hi Frugal,
Thanks for your tip last time; it was your reference that helped me get a jumbo loan @ 5.875%. I went with Absolute Mortgage. It was only 3 mths or so ago that I asked you for your help.

The interest rates really have moved upwards so quickly. Thanks for you advices. I love your blog!

]]> By: Priya http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/comment-page-1/#comment-3144 Priya Fri, 03 Aug 2007 15:40:51 +0000 http://www.1stMillionAt33.com/2007/08/the-subprime-effects-on-your-mortgage-loans/#comment-3144 Awesome deal ! Thanks for publishing frugal. I am still waiting for the housing prices to fall. Awesome deal ! Thanks for publishing frugal. I am still waiting for the housing prices to fall.

]]>