Yikes, as predicted, the ripples will continue in the world of Real Estate Financing. Today, ING Bank announce effective immediately that they will no longer consider 2nd homes, interest only loans or any incentives for "really good" loan to values. What does this mean to you? Simply adding fuel to the trend analysis that real estate financing is getting MUCH HARDER so you must ACT NOW if you want to refi or buy. So far, we've lost the big boys: WaMu, Chase, jumbo loans at Wells, and now ING showing signs of fears and doubt. The government package ISN'T going to save you and pump money into consumer's hands. Just because we have a new president doesn't mean the wheel of fortune will be lubricated and money is easy. Quite the opposite. Change takes time, and the perception of fear is a killer! So, Buckle-Up and Honker-down...but look at the facts, get the real data, make your own informed decision. Don't dream up shit that hasn't happened, but prepare yourself for it instead "I have been through some terrible things in my life, some of which actually happened." Writer, Mark Twain. Let's talk. Pat Townsley, Broker. www.ptre.net 415-485-1776. Real rates, real service, real person for today's real estate.
Thursday, February 12, 2009
California Financing Takes Another Hit; "ING BANK"
Yikes, as predicted, the ripples will continue in the world of Real Estate Financing. Today, ING Bank announce effective immediately that they will no longer consider 2nd homes, interest only loans or any incentives for "really good" loan to values. What does this mean to you? Simply adding fuel to the trend analysis that real estate financing is getting MUCH HARDER so you must ACT NOW if you want to refi or buy. So far, we've lost the big boys: WaMu, Chase, jumbo loans at Wells, and now ING showing signs of fears and doubt. The government package ISN'T going to save you and pump money into consumer's hands. Just because we have a new president doesn't mean the wheel of fortune will be lubricated and money is easy. Quite the opposite. Change takes time, and the perception of fear is a killer! So, Buckle-Up and Honker-down...but look at the facts, get the real data, make your own informed decision. Don't dream up shit that hasn't happened, but prepare yourself for it instead "I have been through some terrible things in my life, some of which actually happened." Writer, Mark Twain. Let's talk. Pat Townsley, Broker. www.ptre.net 415-485-1776. Real rates, real service, real person for today's real estate.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment