Waiter! the check please.

There have been some intriguing REO properties (if anyone says "propertunities" within the range of my throwing arm, watch out) creeping into the neighborhoods we are looking in... Unfortunately the game has been tossed awry by the lack of trust in the market. Super jumbo loans are difficult to find- even if you have cash in hand and income. When you do find a loan, the rates are rapidly approaching the levels I remember from the 80's

Sigh.

There's a house on Gretna Green in Brentwood that I love, love, love. Another on Via de La Paz- and not a chance that either of those properties will close unless I can scrounge up cash to buy them outright.

Comments

Scott McIntosh said…
Hi,

Saw your post on another blog about trouble with getting good interest rates/loans. Just wanted to pass you my contact in case you wanted to give him a call. Right now alot of big lenders and banks are pulling the plug on smaller mortgage brokers around the country with the limited capital around. Obviously making it tougher to find good financing. 19% of First Capital's business in August was from saves. Meaning, people who had previous loans secured from some other brokers got denied at the last minute and called First Capital who was able to get a deal done for them. First Capital is usually able to be very competitive because they have roughly 100 different sources where they get loans. Anyway, his name is Jim Greenwald @310-434-1703.

Fyi, I don't make any money on the referral, just thought I would pass on a contact for you that I use with success.
September 30, 2008 at 9:01 AM
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