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Current Poll Results

Are the Foreclosures in Sub-Prime Mortgages affecting you?

Yes (Explain Why in the Comments Section)	80.00 % (56)
No (Explain Why in the Comments Section)	20.00 % (14)

Total Votes: 70

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"Are the Foreclosures in Sub-Prime Mortgages affecting you?" | Login/Create an Account | 7 Comments

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Re: Are the Foreclosures in Sub-Prime Mortgages affecting yo (Score: 1)
by ypochris on Tuesday, July 31, 2007 @ 05:18 PM EDT
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Yes- in a positive way; lots of good deals on REO's.

Chris

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Re: Are the Foreclosures in Sub-Prime Mortgages affecting yo by dbwflorida on Monday, August 06, 2007 @ 04:37 PM EDT

Re: Are the Foreclosures in Sub-Prime Mortgages affecting yo (Score: 1)
by dragonflybreath on Monday, August 13, 2007 @ 04:58 AM EDT
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2 months ago I had 100% financing, low doc, w approved seller carry 2nd - now no seller carry + only 90%... okay, but I don't have 10% - searching for loan or... ??

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Re: Are the Foreclosures in Sub-Prime Mortgages affecting yo (Score: 1)
by rugrat on Saturday, August 18, 2007 @ 06:44 PM EDT
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Yes- my mortgage broker and I thought we the financing in order to fund a OTC- everything is changing daily. I might have to wait on project until the market changes.

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Re: Are the Foreclosures in Sub-Prime Mortgages affecting yo (Score: 1)
by SJasky on Monday, August 27, 2007 @ 07:27 PM EDT
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Yeah big time! The houses I bought for fixing and flipping are now worth less than I have spent on them. These deals had $20k - $40k in equity in them just 6 nonths ago. With the foreclosure rate in Michigan, I can't buy low enough to keep ahead of the property value decline. Even if I could, there isn't anyone buying homes because they're all leaving Michigan in droves and if there were people here, no one can get financed to purchase.

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Re: Are the Foreclosures in Sub-Prime Mortgages affecting yo by joel on Tuesday, August 28, 2007 @ 08:58 AM EDT

Re: Are the Foreclosures in Sub-Prime Mortgages affecting yo (Score: 1)
by RealityCo on Thursday, September 13, 2007 @ 12:57 AM EDT
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yes in the sense that i have to dig deeper into my pockets to finance deals. Just last year i got 100% financing + rehab cash. Now i get 75-80% finance and have to spend my own cash on rehabs.

SO many sub-primes are closing the doors. For those of us who do well even in this market, it is limiting to the amount of money we can make.

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