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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Scenario....
Posted by alnem
Posted by Kara
Are they preapproved or is their insanity entirely of their own minds?
yes they were approved for 100% financing 4 months ago so today i call their mortgage broker (who is a complete dumbazz btw) and he says "oh yes they can do 106% financing since their credit it so good". i said thats great but now they want a sellers concession and dont have money to put into escrow. he says "well i dont know anything about the real estate end, just the financing part. you would know more than i would about whats required". helloooooo???? then dont go telling people that they can do these things without full knowledge of how the industry works!!!! he just made my job 10x harder!!!!!
Sounds like they are putting together a complete team of dumbazzes. Never underestimate the power or stupid people in large numbers. 
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Posted 10/10/07 4:13 PM  |
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alnem
This is gonna be a good year!
Member since 2/06 9562 total posts
Name:
Emily
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Re: Scenario....
Posted by Kara
Posted by alnem
Posted by Kara
Are they preapproved or is their insanity entirely of their own minds?
yes they were approved for 100% financing 4 months ago so today i call their mortgage broker (who is a complete dumbazz btw) and he says "oh yes they can do 106% financing since their credit it so good". i said thats great but now they want a sellers concession and dont have money to put into escrow. he says "well i dont know anything about the real estate end, just the financing part. you would know more than i would about whats required". helloooooo???? then dont go telling people that they can do these things without full knowledge of how the industry works!!!! he just made my job 10x harder!!!!!
Sounds like they are putting together a complete team of dumbazzes. Never underestimate the power or stupid people in large numbers.
Amen sistah!
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| Posted 10/10/07 4:20 PM |
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TJLealand3
LIF Adolescent
Member since 6/07 839 total posts
Name:
Thomas
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Re: Scenario....
I hope they get thier crap together and purchase the home, I also hope you keep an eye on the house in a few years when these geniuses variable mortgage goes off at 12% and they are selling the house at a 20% loss to get out from under the debt tree which is hanging thier dumb azzez.
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| Posted 10/10/07 4:26 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Scenario....
they would need a new pre-approval after 4 months.
Things will be very different since subprime exploded.
I betcha they don't get approved for 106% financing now.
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| Posted 10/10/07 4:30 PM |
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Theresa05
Sofialiciciousssssssssssss
Member since 10/06 4891 total posts
Name:
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Re: Scenario....
why would you even look for a house if you don't; have $ to put down?
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| Posted 10/10/07 4:30 PM |
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alnem
This is gonna be a good year!
Member since 2/06 9562 total posts
Name:
Emily
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Re: Scenario....
Posted by Blu-ize
they would need a new pre-approval after 4 months.
Things will be very different since subprime exploded.
I betcha they don't get approved for 106% financing now.
i know thats why i called their broker this morning, to get a new one. and the dumbazz must be new at this or something cause when i said "are you sure you can do this? even in this market?" he seemed confused....as if thinking to himself "what does she mean?".
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| Posted 10/10/07 4:46 PM |
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alnem
This is gonna be a good year!
Member since 2/06 9562 total posts
Name:
Emily
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Re: Scenario....
Posted by Theresa05
why would you even look for a house if you don't; have $ to put down?
and at that, why would you look at one thats half a million dollars!?!?!?!?!
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| Posted 10/10/07 4:46 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Scenario....
Posted by alnem
Posted by Blu-ize
they would need a new pre-approval after 4 months.
Things will be very different since subprime exploded.
I betcha they don't get approved for 106% financing now.
i know thats why i called their broker this morning, to get a new one. and the dumbazz must be new at this or something cause when i said "are you sure you can do this? even in this market?" he seemed confused....as if thinking to himself "what does she mean?".
The elevator does not go to the top floor with this guy.
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| Posted 10/10/07 5:14 PM |
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