[FoRK] Reports from the war...
<corinna.schultz at gmail.com> on
Tue Aug 7 12:55:32 PDT 2007
I guess I bought my house just in the nick of time (closed on it back
in April). Although, it seems like the Portland area isn't quite in
sync (or as hot) with the rest of the nation's cities. We did 5% down,
two fixed mortgages (one at 9% the other at 5.something, I think it
was 5.7%), no-documentation, through Wells Fargo. It helped that my
new job was at a higher salary, I guess.
(And then there's small-town USA where nobody wants to live anymore:
our meager real estate holdings in south-South Texas are only slowly
appreciating -- the area is growing, but there is lots of land to
build on. If you say you're buying a house, people usually assume you
bought a lot and are building on it. The tax assessor seems to think
the appreciation is higher than it really is, though. And do you think
the insurance company is going to lower our rates, since the
hurricanes have been quiet for a couple of years now?)
On 8/6/07, Adam L Beberg <beberg at mithral.com> wrote:
> On Friday most mortgage rates went up 1-2% to near 8% at all the banks
> that will still be in business next year. And you're going to need a 10%
> down payment no matter what.
> And if your credit score isn't perfect, Wachovia stopped making loans to
> you - no more alt-A. Smart folks over there.
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