patrick.net

rowemoore says

And why would a 15 year old need 4 gallons of gas?

Learner's permit?

Or maybe just for the lawn mower.

APOCALYPSEFUCK is Tony Manero says

here's nothing more thrilling to a sex-crazed 15-year old than having sex on the altar of a burning church.

while wearing a rubber. Safety first!

lwoellert says

On the other hand, that average rejected borrower also had 42% back-end debt to income, compared to 33% for closed loans.

BTW, "back-end" debt is the total existing annual debt payments plus those from the loan applied for, divided by annual income.

"Front-end" debt is just the payments from the loan applied for, divided by income. Please correct me if I'm wrong.

Hmmm, you could make some good joke about back-end debt...

I recently closed on a condo in SF. Due to the tightening of lending standards for buildings with pending litigation, it had fallen out of contract 3 times in the past 6 months. Closed in 45 days mostly due to the bank moving like molasses. A little frustrated that with a credit score over 800 and coming in over 25% down that I couldn't get 3.875% but the pending litigation really narrowed the field of potential mortgage lenders. I think this is where the other 3 potential buyers had difficulties. My rate is still pretty good since it's better than some of my friends who bought last year.

22% off the 2005 purchase price, 8% lower than the 6 month comps in the area. Rent ratio around 14.3 with a low HOA.

My sister just closed on a short sale over a million in San Diego. She bought in 2007 (against my advice and that of our parents) and is underwater on her home (purchase price around $600,000) but she was able to rent it out for $3500 which is why she's willing to hold on. Not quite sure how she pulled it off.

My loan was recently denied by two lenders. My credit is 689, I have 2 fully paid homes (one of them is a rental), I've been with the same employer for 8+ years, I have no debt, make 6 figures, and I have 20% to put down for a 500K home. The first lender denied my loan because of lending overlays. I had to do a short sale two years ago due to a divorce. This lender requires at least 4 to 7 years even though I met Fannie Mae's lending guidelines. The second lender did not have any lending overlays but still denied my loan due to the fact that I short sold the house on my own, not with my ex-spouse, after the divorce. Well F$%#^ them! I will wait for the home prices to come down and buy them in cash.

Not yet, but I will keep you posted. Preapproval letters are still easy. Closing a loan... another issue entirely. I'm a humble first time home buyer who is being diligent, so I have yet to pull the trigger on purchaste a home... in the event I ever do, then we'll tell how easy or difficult it is to close a loan... but on the face of it, qualifying is a simple matter... most recent two pay stubs and verbal assurance of a "good credit score" is all I needed – but a preapproval is MUCH different than closing on a piece of real estate.

APOCALYPSEFUCK is Tony Manero says

There's nothing more thrilling to a sex-crazed 15-year old than having sex on the altar of a burning church.

Despite finding that comment offensive…wasn’t that a scene from a Madonna video back in the 80’s?

EastCoastBubbleBoy says

wasn’t that a scene from a Madonna video back in the 80’s?

I don't know, but it sure sounds like it could have been a Madonna video from the 80's. ;-)