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[-] 3% down - blessing or curse?? - Leigh Attridge/MA (11 replies)
12/17/2014 7:02:23 PM (2008 views)
Re: 3% down - blessing or curse?? - JOE Alvey/KY
12/17/2014 7:58:55 PM (1322 views)
Re: 3% down - blessing or curse?? - Nils Nelson/ME
12/17/2014 9:07:58 PM (1313 views)
Re: 3% down - blessing or curse?? - Kurt deVries/FL
12/18/2014 9:25:05 AM (1230 views)
Re: 3% down - blessing or curse?? - Michael Madden/RI
12/18/2014 11:01:36 AM (1174 views)
Re: 3% down - blessing or curse?? - Kurt deVries/FL
12/18/2014 11:13:06 AM (1154 views)
Re: 3% down - blessing or curse?? - Michael Madden/RI
12/18/2014 11:30:17 AM (1194 views)
Re: 3% down - blessing or curse?? - Kurt deVries/FL
12/18/2014 11:43:22 AM (1150 views)
Re: 3% down - blessing or curse?? - Scott Perry/PA
12/18/2014 11:30:51 PM (4097 views)
Re: 3% down - blessing or curse?? - george Hubka/MI
12/29/2014 6:55:37 PM (1131 views)
Re: 3% down - blessing or curse?? - Leigh Attridge/MA
12/18/2014 1:46:40 PM (1220 views)

Regardless of what governments are or aren't going to do with the checks I send them each & every year,  this 3% thing is driving me crazy (admittedly a very short trip).  People who buy houses, also buy pots & pans & furniture & books & everything else that goes into making a home.  Paint, wallpaper, garden tools.  All these purchases, whether made online, brick & mortar, full price or thrift store, means dollars moving through the system which is a good thing.  As Kurt pointed out the title business will pick up, which is also always a good thing.  Home ownership stabilizes neighborhoods (until the foreclosures start & then it doesn't anymore).  Even the professional home flippers, not my personal favorite human beings, have a role to play here, in the sense that they do some rehabbing. 

My problem is more along the lines of a road to hell being paved with good intentions.  If the plant buyers, & pots & pans people are loading their purchases on credit cards & really, truly can't afford the first gallon of paint then this is a reload of what we just went through & is really not good.   Hubby & I bought our extremely small house in 93 when a fortuitous combo of depressed prices & falling interest rates meant that we could, after 12 years of marriage, a small child & some savings, finally afford to buy a house.  I think we put 10% down; we jumped through the usual hoops &  as a self-employed person I believe that the bank ordered a character analysis on me by a professional FBI profiler to guarantee my general worthiness as a human being.   Ten years later, when we re-fi'd just to get a better rate & a smaller term, I practically did the whole closing over the phone. 

Today we couldn't afford to put down 10% of what our house is *worth* according to what the City assesses us at; so I get it when people want 3%- it's possibly the only way they can get a toehold in the market.    But what is that toehold actually costing homeowners .  The bank is the real homeowner- we're all just renters, who build equity a speck at a time, so maybe renting is more viable right now than buying. 

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Re: 3% down - blessing or curse?? - Patrick Scott/IL
12/19/2014 6:45:32 PM (1394 views)

[+] United Lender Services (ULS) No Payers - Mike McKeon/KS (1 reply)
12/16/2014 10:29:04 AM (2325 views)

[+] non payment - SHELIA DENMARK/GA (8 replies)
12/15/2014 3:55:25 PM (3284 views)

[+] What I don't understand.... - Nils Nelson/ME (30 replies)
12/15/2014 12:04:23 PM (2648 views)

[+] E&O Providers - Kevin McCarthy/TX (4 replies)
12/13/2014 11:41:29 AM (2683 views)


Real Title Services


[+] A Come on man moment. - JOE Alvey/KY (17 replies)
12/11/2014 8:24:01 PM (2563 views)

[+] How to handle references - Heidi Gemeling/FL (2 replies)
12/11/2014 4:11:51 AM (2100 views)

[+] Beware of CLS Direct NY - Priscilla Galbreath/VA (4 replies)
12/10/2014 11:33:47 AM (2150 views)

[+] Titleology? - K C/NJ (8 replies)
12/9/2014 4:44:10 PM (8109 views)

[+] E &O Certificate Holder - Laurie Puckett/TN (2 replies)
12/8/2014 11:33:49 AM (1903 views)

[+] Looking for an Inexpensive DIY Website - Heidi Gemeling/FL (3 replies)
12/6/2014 10:10:32 AM (1872 views)

[+] Any new laws in 2015? - William Pattison /CA (2 replies)
12/2/2014 6:40:24 PM (1981 views)

Need Help - JOE Alvey/KY
12/1/2014 8:53:55 PM (1909 views)

[+] American Freedom Assurance - AFA Is a No Pay - Laurie Puckett/TN (4 replies)
12/1/2014 5:53:47 PM (2223 views)

[+] Client inquiry - Alan Martin/AL (3 replies)
12/1/2014 2:51:08 PM (2162 views)


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