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larry

Joined: 27 Jun 2007
Posts: 3322
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Caron
 Moderator
Joined: 19 Jul 2005
Posts: 1519 Location: florida
281.04 Dollars($)
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steve

Joined: 23 Jul 2008
Posts: 2 Location: San Diego, CA, USA
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Posted: Wed Jul 23, 2008 11:18 am Post subject:
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Hi everyone. I'm Steve Jones, recent first-time homebuyer and full-time domain entrepreneur. This forum looked like an interesting helpful place so I figured I'd join.
My homebuying experience was an interesting one - not so much buying the home but the loan process. The condo seller's preferred lender was a company that was a client of mine when I worked at NVS (real estate appraisal management firm) though different branch offices, and I ended up really getting dicked around. I ultimately had to pay 20% down, and pay off my credit cards and my car to quality for a CalHFA first-time homebuyer program through them...ended up getting a pretty nice 5.25% fixed 30 year mortgage even though originally I was quoted 5.625%, and along the way they almost tried to stick me with a 7% 10-year interest only! Anyways, I had intentionally stayed living with my mom until I bought a place so I could afford it and never throw away money on rent, so I'm happy at least I accomplished what I wanted to. However, as you see in my sig, I've lost more than my down payment in value on the place (yes, I realize saying "lost" isn't accurate as I still own the place and plan to for at least a few more years). I bought at a supposed good time to buy, when prices were "low", but they kept going lower and lower...ugh.
Anyways, I'm glad to see a nice helpful forum like this and will surely make use of experts here whenever I encounter more mortgage/home-buying fun. Good luck to everyone in your businesses, lives, and loans! _________________ InternetMortgageBroker.com, LoanInsurance.org, and other mortgage and financial domains for sale at NameTrader.com!
Condo purchase price June 2007: $280,000
Condo value July 2008 (per Zillow): $222,500 - OUCH! |
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Samantha
 Community Mentor

Joined: 16 Sep 2005
Posts: 1609 Location: MASSACHUSETTS
150.97 Dollars($)
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eroxxzy4

Joined: 02 Sep 2008
Posts: 1
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Caron
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Joined: 19 Jul 2005
Posts: 1519 Location: florida
281.04 Dollars($)
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Kathy Bailey
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Adalia
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gmakerley
 Community Mentor


Joined: 09 Nov 2007
Posts: 12346 Location: bloomfield, ct
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Samantha
 Community Mentor

Joined: 16 Sep 2005
Posts: 1609 Location: MASSACHUSETTS
150.97 Dollars($)
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BG

Joined: 13 Oct 2008
Posts: 1
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Samantha
 Community Mentor

Joined: 16 Sep 2005
Posts: 1609 Location: MASSACHUSETTS
150.97 Dollars($)
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carolthompson

Joined: 20 Oct 2008
Posts: 1
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jameshogg

Joined: 20 Dec 2005
Posts: 10148 Location: Nevada
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BrianDelaCruz
 Marketing Dept
Joined: 17 Apr 2006
Posts: 265 Location: CALIFORNIA
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