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Jul 6, 2015
9:51:36pm
Few ppl made accurate points
The stated income loans were big problem, anytime there's an increase like ours ur going to have idiots jump in and think they know what they're doing. In late 2000s there were so many ppl getting into lending because of demand and lack of oversight it caused additional problems. ALSO, clever ppl were skating the system and buying through lenders on their "payroll" only to scrape out the equity then short sale the home. My team does more short sales than anyone in utah and it's 10 times harder to get banks to approve a SS now because they know how good our mkt is and they can foreclose and resell cheaper. So with fewer vacant homes, and almost non existent "ghost inventory" buyers mostly have "owner occupied" options to look at. Past lending problems exposed a history and it's being corrected. So many things our states economy has going for it years ahead of others. We have progressed leaps and bounds over national averages and the statement "we've done things the RIGHT way" is extremely relevant here.
ajweston
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ajweston
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