Is the future so bright you just have to wear shades?

Got that big promotion? Will you be moving to take that new job?  Shall I send over some sunglasses because the future is looking so bright?!

Won’t you be surprised when you go to sell your home and your prospective buyer can’t even qualify for a bank loan in spite of the fact that they intend to make very large down payment and have stellar credit histories!  Horror of horrors, they cannot find a bank that wants to underwrite a conventional jumbo mortgage loan!

Welcome to the world of the home-grown subprime mortgage liquidity meltdown!  You respond in bewilderment by saying that your home is in an upscale neighborhood and the “good” buyers in front of you have easily qualified for jumbo loans before (that is to say home loans greater than $417,000).

With a certain incredible air in your voice, you say your property does not even reside in California where the median home price is well above $500,000 (and jumbo mortgages are as much as 44 percent of all mortgages issued in certain metro areas, according to data from First American LoanPerformance).

Maybe it’s time to consider Owner Financing just to get out of Dodge….?!

I am not making this up.  Consider these articles:

                                                  http://biz.yahoo.com/ap/070829/mortgage_applications.html?.v=1

                                                      http://biz.yahoo.com/ap/070829/expensive_homes.html?.v=2

Best in Success,
Maria Fee
REMI KNOX, LLC
Trading Financial Futures TM
281-346-0400   BUS  |  EMAIL   MariaFee@REMIKNOX.com
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