We have known Jim & Donna Klinge for over a dozen years, having met them in Carlsbad where our children went to the same school. As long time North County residents, it was a no- brainer for us to have the Klinges be our eyes and ears for San Diego real estate in general and North County in particular. As my military career caused our family to move all over the country and overseas to Asia, Europe and the Pacific, we trusted Jim and Donna to help keep our house in Carlsbad rented with reliable and respectful tenants for over 10 years.
Naturally, when the time came to sell our beloved Carlsbad home to pursue a rural lifestyle in retirement out of California, we could think of no better team to represent us than Jim and Donna. They immediately went to work to update our house built in 2004 to current-day standards and trends — in 2 short months they transformed it into a literal modern-day masterpiece. We trusted their judgement implicitly and followed 100% of their recommended changes. When our house finally came on the market, there was a blizzard of serious interest, we had multiple offers by the third day and it sold in just 5 days after a frenzied bidding war for 20% above our asking price! The investment we made in upgrades recommended by Jim and Donna yielded a 4-fold return, in the process setting a new high water mark for a house sold in our community.
In our view, there are no better real estate professionals in all of San Diego than Jim and Donna Klinge. Buying or selling, you must run and beg Jim and Donna Klinge to represent you! Our family will never forget Jim, Donna, and their whole team at Compass — we are forever grateful to them.
NASA Federal Credit Union and Navy Federal Credit Union are offering members mortgages that do not require a down payment or mortgage insurance.
This type of loan contributed to the burst of the housing market in 2008, but both banks said they believe their underwriting standards and member relationships will protect everyone from loan losses, Credit Union Times reported.
Bill White, vice president of residential lending at NASA Federal Credit Union, said the bank focuses on members’ ability to repay the loan instead of what might happen to the value of the underlying asset.
White added, “It really is all about our members. They understand how the credit union seeks to help them and they want to help the credit union too.”
I love free equity!!!! Investors who took risk deserve bigtime reward.
Interesting that Navy Federal and NASA Federal are lowering the down payments standards. Maybe demand for mortgage loans at those credit unions is on the decline and their trying to entice some potential borrowers. You would think they wouldn’t do anything if they had sufficient loan demand. That was the same thing that happened at the top of the bubble. The ninja loans and stated income loans were in response to weakening demand for loans yet a increased investor demand for MBS. You could certainly see loan demand impacted at a place like Navy Federal with the sequester going into effect.
the spike in the index from 2009 to 2011 is presumably from the first time buyers tax credit. The index then fell once that credit was removed.
I wonder if the index were to drop again if mortgage rates increased?
@ JSG
If they rise 2% points I will practically guarantee it will.