A response to Florida and a salute to the Hunt
Grunt recieved a response regarding his last entry about Florida from master agent and blogger Karen Hoyt. Her response to my entry was the following.
Really? Property Grunt you should consult your favorite realtor in Florida first. This is not true. They are still even doing 0% and neg am also.
So I decided to take her up on the offer and asked about which banks were engaging in unique lending practics. Her response was the following.
Chase, Wells Fargo, Countrywide, WCI Mortgage, I don't know of any lender that is restricting the downpayment. Maybe the "builder" is restricting the downpayment because they are nervous that the buyers that are buying pre-construction(speculation buyers) may back out if the market turns.
I am more inclined to believe Karen since her experiences in the real estate trenches of Florida are quite vast.
Please keep your eye out for this weekend's New York Times Hunt column in the New York Times Real estate section. Joyce Cohen has prepared a delightful column that I think everyone will enjoy.
Really? Property Grunt you should consult your favorite realtor in Florida first. This is not true. They are still even doing 0% and neg am also.
So I decided to take her up on the offer and asked about which banks were engaging in unique lending practics. Her response was the following.
Chase, Wells Fargo, Countrywide, WCI Mortgage, I don't know of any lender that is restricting the downpayment. Maybe the "builder" is restricting the downpayment because they are nervous that the buyers that are buying pre-construction(speculation buyers) may back out if the market turns.
I am more inclined to believe Karen since her experiences in the real estate trenches of Florida are quite vast.
Please keep your eye out for this weekend's New York Times Hunt column in the New York Times Real estate section. Joyce Cohen has prepared a delightful column that I think everyone will enjoy.
posted by Grunt at
10:43 AM
