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The Big Short II

The Big Short II

In the week that the movie, The Big Short comes out, a San Francisco Credit Union is doing exactly what partially caused the big short to happen. These geniuses are putting out a loan with No Money Down up to, get ready…….$2,000,000.  That’s two million dollars with no down payment.  Let me say that again.  Buy a $2,000,000 house in San Francisco and put nothing into it.  No skin in the game. Will the CFPB do anything about it?  Will anyone be up in arms (except me?).  No.  They’ll just say that it is a great business decision on their part for the non-profit credit union to attack a niche in the market. Bullshit. First, if you put no money down, you have costs to sell the place.  Between brokerage commission, transfer taxes, title insurance, possible closing cost credit to buyer for a defect in the house, etc., you could be looking at upwards of $200,000 or 10% as a fee to leave.  And if you don’t have that...

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Media Reel

http://fredglick.com/wp-content/uploads/2015/04/Fred-Glick-Reel-SD.mp4 Some fun CNBC highlights from over the years.  Enjoy! Share this:TwitterFacebookGoogleTumblrLinkedInEmailPrintPocketRedditPinterestLike this:Like...

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Top Reasons the Real Estate Market Could Crash Soon

Top Reasons the Real Estate Market Could Crash Soon

Crash? Don’t be alarmed. Don’t sell your business, but realize that the economic structure and outside occurrences can shape a real estate market. I am a normally upbeat guy, but I do like realism. We have to step away from being happy all the time to an honest view for our clients — both sellers and buyers. Here are the top reasons that the real estate market could fail soon, in no particular order: 11. Rates are dropping. What? Aren’t rates dropping a good thing? Actually, no. The market is telling us based on macroeconomic reports that the economy is not cooking and jobs are not being created to make people buy homes. The only good news that will come from this is that those who forgot to refi, especially the HARP2 eligible, will be able to get better rates. Speaking of HARP, it’s being reported that FHFA Director Mel Watt may waive the eligibility date! 10. Robots. CNBC did a report called “Robots Rising” highlighting the fact that robots will continue to...

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CNBC: Mortgage Pope!

CNBC: Mortgage Pope!

No, I may not be the mortgage pope but I do believe in 2013’s low down payment mortgages. Share this:TwitterFacebookGoogleTumblrLinkedInEmailPrintPocketRedditPinterestLike this:Like...

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