Heads Up On Stck Market

[abostonboy]

Don't have time for a long post. But if you have stocks that you are planning on selling in the near future, be careful. IMHO the market is in for a huge dip.

Rumor has it that Bear Stearns, which has 7 trillion mortgages, will get downgraded from A+ to bad debt by Moodys on Tues. Not good for market. They deny that they dont have the money to cover the bad debts. But we will see.

Here is a link:
http://biz.yahoo.com/ap/070804/wall_street.html?.v=2

And here is Bear Sterns (BSC)
http://finance.yahoo.com/q?s=bsc&x=41&y=20

just check ALL the major investment firms and mortgage companies (countrywide etc).

When a company like Bear Stearns gets downgraded to bad debt it can have a rippling effect on the market as they are one of the top five investment companies and provide money to keep the market going.

Just my "ramblings". A financial planner is the one to talk to.

There will be some bargains for investors like myself who are in for the long haul. But maybe some shock for those who want a quick return.

[Lee]

Yup, last month both mom and i pulled a load of cash out of the markets because we saw what was happening on the charts, its going to be a while before the markets pick up again, thankfully, the money we pulled was pooled in to a high interest account so what we were making on the markets, its going to make for us in the bank

Regards,

Lee

[Alex_Manifest_M]

Planning on a jumbo mortgage? Get ready for the shock of your life. You may be looking at 1.5 points higher then last week. And since most of us are self employed, no income verification loans are on the way out without 20% down.

The increase in foreclosures on jumbo loans has jumped 64% in the last month. So if you are living in an area where a decent house is over 400k then you have some plans to rethink. Short term construction loans are now at 8.25 so expect home prices to go up in new construction due to the limited inventory that will be available in many markets.

80/20 loans to avoid PMI....headed out. So if you have a loan in process, call your lender on Monday if you can catch him before he jumps out the window.

[abostonboy]

80/20 loans to avoid PMI....headed out. So if you have a loan in process, call your lender on Monday if you can catch him before he jumps out the window.

Exactly. Tuesday will be too late.

[abostonboy]

Yup, last month both mom and i pulled a load of cash out of the markets because we saw what was happening on the charts, its going to be a while before the markets pick up again, thankfully, the money we pulled was pooled in to a high interest account so what we were making on the markets, its going to make for us in the bank

Regards,

Lee

Lee,

I am actually buying right now.

When one invests they have to see if the company is broken or the stock is broken. Investing in broken stocks is a good bargain. Investing in a broken company is a dead end.

lloyd

[Lee]

Planning on a jumbo mortgage? Get ready for the shock of your life. You may be looking at 1.5 points higher then last week. And since most of us are self employed, no income verification loans are on the way out without 20% down.

The increase in foreclosures on jumbo loans has jumped 64% in the last month. So if you are living in an area where a decent house is over 400k then you have some plans to rethink. Short term construction loans are now at 8.25 so expect home prices to go up in new construction due to the limited inventory that will be available in many markets.

80/20 loans to avoid PMI....headed out. So if you have a loan in process, call your lender on Monday if you can catch him before he jumps out the window.

We're actually making a killing on refis right now, there are currently 12 active files sat on the desk with another 6 coming in next week to work on not including the ones we closed yesterday and the 2 that'll have closed Monday.

People are refi'ing up in NY for more than $1mill too to buy 2nd and 3rd investment homes/properties.

Regards,

Lee

[abostonboy]

I am not sure if i would want to be in the mortgage biz right now. Wall Street does not like them, Countrywide and others are taking a beating. Countrywide is down nearly 7% and "says" they have short term liquidity to overcome it. Come Tuesday the money might not be there for these companies.