can't get a loan from banks

Quote from wave:

"Chase is ridiculous."

You wonder why they survived this mess. They hedged their bets just like wells fargo does. They control the risk.
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I have a freakin house pain off in cash. I'm only asking 25% You're allowed to go 2:1 in stocks. I'm going 1.5:1.
 
Quote from Sky123987:

I have a freakin house pain off in cash. I'm only asking 25% You're allowed to go 2:1 in stocks. I'm going 1.5:1.
More...

Scary to think what that is implying. The banks know, the fed knows. This whole bailout is just to reduce the impact of this fallout. Will it work and how much will it help.

It's endgame for most. Paradigm shift occurring. Maybe now we can become consumers of leisure and not consumers of useless stuff. Hands down, Europeans have a higher standard of living, they know how to live. They don't own much "stuff" but they travel more than Americans do and they own their homes and drive little cars.
 
Quote from wave:

"Chase is ridiculous."

You wonder why they survived this mess. They hedged their bets just like wells fargo does. They control the risk.
More...

I think they survived because they have the fed in their back pocket. If they would've let Bear assets go like LEH, JPM would've been screwed...

I say Chase is ridiculous because they, like all of these other banks, are tightening up on good deals when risk is the lowest. (yes, I am saying risk is much lower now than it was in 2006... there's much less downside to buying foreclosed/depressed property or lending against it right now than doing the same against overpriced property)
 
Sky i think you're just on elite to create headlines. I don't even believe you're a real trader. You constantly start posts and whine and cry like a fuckin baby. Like your accounting bs. Go get a fuckin real accountant and quit posting bs that nobody gives 2 shits about.
 
<--- not suprised. With that said I just got a LOC. Pretty substantial size at least for me. Want it available in case I come across any lucrative RE deals. I would bet credit standards get higher and higher and the chance of getting approved down the line will be tougher esp getting it done fast.
 
sky's experience seems to contradict a recent thread on credit availability to ETers. according to it, practically nobody had problems getting credit.

i am thinking that many simple have not applied for credit in the last 3 months and are simply deluded that there is plenty of credit.
 
The fact is the lenders can't afford to take any more risk. My doctor was telling me how he had to put 30% plus down in order to qualify for the loan. The banks are offloading the risk to the borrower in fears they won't be able to pay, won't want to pay anymore(house worth 30% less).

There is a whole wave of defaults that have yet to hit the markets.


Doctors having trouble justifying their life costs versus their income. Most are breaking even.
 
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