Hi,
The Federal Reserve just reduce his short term rate from 5.25% to 4.75%. What that will mean for us? Will that make people start buying houses again? Will lenders make easy for borrowers to get a loan? Will the 100% stated income be back?
I will like to have your comments. In my opinion this may have some impact in the market, but still we have so many people that need to refinance an adjustable loan and having the same situation they had in 2006 there is not place in the market for them because the lenders not allow the "no ratio" or "no doc" any more.
Did you know that IndyMac re-establish the Flex Option program? Pay 3% less than your actual interest rate as a negative amortization.
Will like to hear from all of you.
Tony Yannelli
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