Wingy is all grown up!

Richard Riley wrote:
(sorry for not trimming the quote, Google doesn't seem to let me)

I called a couple of mortgage brokers in Las Vegas to ask them if it
made sense. I stipulated Wingies limits - 70% loan to value, no rural,
no construction loans, no rehab, etc. I also stipulated no
documentation of income and a 400 credit score. They said they could
do a 30 year fixed in the mid 7% range.

In the current environment, the only loan they'd demand 12% for would
be a second trust deed for someone in deep trouble - missed 1st
trustdeed payments, no job and no prospect for one, no cash on hand.
AND a terrific rate on the first trust deed that they don't want to
lose by refinancing the whole thing and getting cash out. The broker
would make his money on the points, the interest rate would pass
through to the investor.

Maybe there's a niche market for that kind of loan in Las Vegas - but
the people I talked to said they see that situation perhaps once a
year.

When posting from Google, click the "show options" then "reply"
buttons. If you use the instan "reply" you get what shows above, i.e.,
no quoted text and can't tell who you replied to.

Harry K

Richard Riley wrote:
(sorry for not trimming the quote, Google doesn't seem to let me)

I called a couple of mortgage brokers in Las Vegas to ask them if it
made sense. I stipulated Wingies limits - 70% loan to value, no rural,
no construction loans, no rehab, etc. I also stipulated no
documentation of income and a 400 credit score. They said they could
do a 30 year fixed in the mid 7% range.

In the current environment, the only loan they'd demand 12% for would
be a second trust deed for someone in deep trouble - missed 1st
trustdeed payments, no job and no prospect for one, no cash on hand.
AND a terrific rate on the first trust deed that they don't want to
lose by refinancing the whole thing and getting cash out. The broker
would make his money on the points, the interest rate would pass
through to the investor.

Maybe there's a niche market for that kind of loan in Las Vegas - but
the people I talked to said they see that situation perhaps once a
year.

When posting from Google, click the "show options" then "reply"
buttons. If you use the instan "reply" you get what shows above, i.e.,
no quoted text and can't tell who you replied to.

Harry K

"Ron Wanttaja" wrote in message
...
On 1 Apr 2006 07:05:09 -0800, "Richard Riley" wrote:

Muzzleloader doesn't actually cure any physical ailments.

I disagree. In Bob Urban's case, it cured "life". :-)

Ron Wanttaja


Yes, Ron. But it was only a temporary cure. After the funeral he sat up
and asked me if there was any BarBQue left!

Highflyer
Highflight Aviation Services
Pinckneyville Airport ( PJY )

Note: Pictures of the funeral are on the plaque for Tony. The flyin this
year is May 19, 20, and 21. Be there or be square!

On 6 Apr 2006 07:04:16 -0700, "stol" wrote:

News of my death is greatly exaggerated ! [plagiarized]


What the hell is this group becoming....
when anyone cares that I'm dead? ;-)

Well, geeze, Bob... don't know when to start the party, otherwise. :-)

Ron Wanttaja

In article , - Barnyard BOb -
says...

News of my death is greatly exaggerated ! [plagiarized]

What the hell is this group becoming....
when anyone cares that I'm dead? ;-)


- Barnyard BOb -

All great men are dead.
I'm not feeling well lately

Hi Unka Bob
Do me a favor ,if ya die let me know so I can bring some muzzle loader to the
wake and we'll see if we can make you the 2nd AND 3rd guy to raise from the dead
LOL!! Good to hear from you.

Your favorite nefoo

Chuck S


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