LOCK THOSE RATE!! 4.00% as of today!

Hello,

If you have home equity line of credit, business line of credit, etc, lock those rate today! 4% on 15 yr, 4.25% on 30 yr! Depending on your lender floor rate... some have gone under 4%.

FYI

Damn I wish I could afford a house.

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Originally Posted by cowboykjohnson

Damn I wish I could afford a house.

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Didn't stop everybody else[LOL]

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Originally Posted by Ridge

Didn't stop everybody else[LOL]

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Thats an understatement... if we rejected loans in the gray area, the Fed would cut off our funding and sue us for 'redlining.' Now they are blaming the banks for the downfall.

Bah!

Quote:

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Originally Posted by MB888

Thats an understatement... if we rejected loans in the gray area, the Fed would cut off our funding and sue us for 'redlining.' Now they are blaming the banks for the downfall.

Bah!

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I have seen some banks doing some pretty shady stuff;
Not necessarily illegal, but questionable.

MB888; I love your avatar. Seriously I really really love her

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Originally Posted by Byte Stryke

I have seen some banks doing some pretty shady stuff;
Not necessarily illegal, but questionable.

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You mean like some car salesmen, appliance salesmen, pawnshop brokers, gun store owners and so on do? The same thing applies everywhere. Buyer beware, don't sign anything you don't understand 100% and stick with referred bankers! The great thing about the current market, only 1 out of 3 banker/brokers are left in the business. In many ways, the bad ones are long gone.

Quote:

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Originally Posted by MB888

Hello,

If you have home equity line of credit, business line of credit, etc, lock those rate today! 4% on 15 yr, 4.25% on 30 yr! Depending on your lender floor rate... some have gone under 4%.

FYI

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Quote:

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Originally Posted by cowboykjohnson

Damn I wish I could afford a house.

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I can afford my house; for now.

If I take out a loan on the percieved equity I have in my home (based off of a perception of it appreciating in value), and later run into bad times where I need to sell my home but the value of my home has actually depreciated (what? that could never happen...except in 2008, 2009, and 2010), I'd be screwed because I'd be so upside down on the whole deal.

Happened to LOTS of folks.

I, for one, will never gamble with the security of my home by taking out additional loans against it.

Just sayin.

ok, so is one of a you a mortgage guy or work for a bank that does home loans?

Whoa...I could swear this was like the 3rd page of another thread yesterday...