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edjr

Housing Market crash imminent

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6 minutes ago, Hardcore troubadour said:

JP Morgan has laid off over 1k mortgage bankers and are reassigning others to lower paid positions. 

People hired during the refinance boom. Obviously that boom is now over.

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7 minutes ago, TimmySmith said:

People hired during the refinance boom. Obviously that boom is now over.

I’ve also read that cash out home equity loans are way up. 

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5 minutes ago, Hardcore troubadour said:

I’ve also read that cash out home equity loans are way up. 

Hadn't heard that. That is how the danger starts.  Putting idiots underwater if a fall happens. 

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8 minutes ago, Hardcore troubadour said:

I’ve also read that cash out home equity loans are way up. 

and rates are high. People can't afford what they bought.  Big trouble.. 

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Just now, edjr said:

and rates are high. People can't afford what they bought.  Big trouble.. 

They are trying to get cash while home valuations are high. Then they'll have 2 loans and a house they can't sell to cover the debt. Stupid people dealing with unscrupulous people.  Never good for the rest of us.

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Just now, TimmySmith said:

They are trying to get cash while home valuations are high. Then they'll have 2 loans and a house they can't sell to cover the debt. Stupid people dealing with unscrupulous people.  Never good for the rest of us.

:thumbsup:

One of my good friends does mortgages. He would sell a AR mortgage to his grandmother for the commission 

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