Comments on: Mortgage Rates Drop Below 6% http://crosslandteam.com/blog/2008/09/12/mortgage-rates-drop-below-6/ Austin Real Estate Blog Fri, 11 May 2012 17:13:15 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Steve Crossland http://crosslandteam.com/blog/2008/09/12/mortgage-rates-drop-below-6/#comment-34961 Steve Crossland Wed, 17 Sep 2008 14:33:15 +0000 http://crosslandteam.com/?p=506#comment-34961 > Wow Ed, your comment almost sounds like the sales pitch for fraud. I didn't read it that way. He's simply pointing out that the limit excludes primary residence. So, if I want to sell my home and buy another to live in, I can do so even if I have more than 4 existing real estate loans. Heard on the news this morning that loan applications are up 30%+, driven by refinancing, while housing starts are at the lowest level since 1991. On the other side of this housing bubble I think we are certainly going to see a shortage of inventory as builders, at least in Austin, have pulled back a lot further than need to maintain equilibrium. Steve > Wow Ed, your comment almost sounds like the sales pitch for fraud.

I didn’t read it that way. He’s simply pointing out that the limit excludes primary residence. So, if I want to sell my home and buy another to live in, I can do so even if I have more than 4 existing real estate loans.

Heard on the news this morning that loan applications are up 30%+, driven by refinancing, while housing starts are at the lowest level since 1991. On the other side of this housing bubble I think we are certainly going to see a shortage of inventory as builders, at least in Austin, have pulled back a lot further than need to maintain equilibrium.

Steve

]]> By: anonymous http://crosslandteam.com/blog/2008/09/12/mortgage-rates-drop-below-6/#comment-34960 anonymous Wed, 17 Sep 2008 14:22:36 +0000 http://crosslandteam.com/?p=506#comment-34960 Wow Ed, your comment almost sounds like the sales pitch for fraud. Any house past your first is considered an investment, or 2nd/vacation home in the eyes of the gov't. This is pretty evident by the buried terms of the housing bailout bill that turns 2nd homes/vacation homes only eligible for: (# of years actually lived in home full time/time of ownership)*(capital gains deduction). This is instead of a flat deduction of 250k/500k of gains before capital gains taxes. The gov’t is trying to crackdown on speculator investing. Wow Ed, your comment almost sounds like the sales pitch for fraud. Any house past your first is considered an investment, or 2nd/vacation home in the eyes of the gov’t. This is pretty evident by the buried terms of the housing bailout bill that turns 2nd homes/vacation homes only eligible for:

(# of years actually lived in home full time/time of ownership)*(capital gains deduction).

This is instead of a flat deduction of 250k/500k of gains before capital gains taxes. The gov’t is trying to crackdown on speculator investing.

]]> By: Ed Cortes http://crosslandteam.com/blog/2008/09/12/mortgage-rates-drop-below-6/#comment-34773 Ed Cortes Tue, 16 Sep 2008 18:18:45 +0000 http://crosslandteam.com/?p=506#comment-34773 Very much enjoy your website. I wanted to reply to the comment about regarding the number of mortgages. If the requested mortgage is for primary residence, there is no limit to the number of mortgages one may have. The limit only applies to requests for investment or 2nd home mortgages. Just rec'd word that the Fed left short-term rates steady. Have a great day!! Very much enjoy your website. I wanted to reply to the comment about regarding the number of mortgages. If the requested mortgage is for primary residence, there is no limit to the number of mortgages one may have. The limit only applies to requests for investment or 2nd home mortgages.

Just rec’d word that the Fed left short-term rates steady. Have a great day!!

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