Monday, January 30, 2012

We are now at the rock bottom of the Housing Crash

For many years scum bag realtors have been claiming that the bottom of the housing market has been reached only hoping to boost their sales.

Well folks, on Jan 31st, 2012. I am telling you that in my opinion we have now reached the bottom of the housing market and that prices will only rise from this point forward. Not saying they will rise astronomically but house prices will no longer crash until after the next peak is reached.


1) The New Harp 2.0 program will give responsible home owners a reason to stay in their home.

2) Foreclosures will no longer be a major anchor on the housing market because most of the foreclosures that were going to happen have occurred already, and Harp 2.0 and other refinancing options being talked about will give responsible home owners who have stuck it out this far a reason to continue doing so.

3) All the people who strategically defaulted back in 2008 have recovered their credit almost to the point where they can actually qualify for a mortgage again. From now on as each month passes more and more of the original losers who created this mess in the first place will now be able to get mortgages again at the lower home prices. I predict that this will be the major factor in driving house prices higher, as all the sub prime borrowers who got foreclosed on will start to feast their greedy eyes on mortgages, and house profits once again.

So everybody...Housing Fear is ending...And Housing Rise is about to begin once again.

Jan 30th, 2012...The Housing Crash has hit Bottom, and it's all uphill from here.

And if you are the girl in the photo...Please email me because I would like to buy you some drinks sometime.

Tuesday, January 17, 2012

Saturday, January 7, 2012

Wells Fargo Harp 2.0: "Wait till March or April"

My mortgage guy calls me up yesterday and tells me that if I am still interested he could go forward with the refinance, and he now has all the information he needs.

Wow I thought...This was great news. When I asked him if it was true that there were no fee's with the harp 2.0 mortgage if you refinance to a shorter term he started to play dumb with me and asked "whats harp 2.o". I was kind of flabbergasted because he knew this was the whole purpose of me meeting with him in person 2 different times and what I was waiting for.

Basically he was trying to refinance me with the harp 1.0 mortgage saying I would qualify with that and tried arguing with me that my condo was not more then 125% underwater based on the information he had in his system.

I informed him that My condo was worth 30,000 if I was lucky and I paid 87,000 for it. I also told him I was not going to pay the appraisal fee associated with harp 1.0 or the higher origination fee's.

He then told me he heard nothing about harp 2.0 being lower in origination fee's. (even though I read it on the fannie mae info page. (see page 19-20 under pricing)

Basically I told him I was not interested in Harp 1, and I will wait till Harp 2 is out. He said it won't be until March or April, and he would hear more around Feb 1st.

I kind of feel like he was trying to trick me into refinancing into harp 1, even though he knew I wanted harp 2.

Sometimes it sucks being so smart. Hopefully it's not another April Fools Joke.

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