Comments on: Are Lenders Redlining Entire Cities?

By: Roberta

Roberta — Tue, 22 Apr 2008 17:03:04 +0000

Kevin:

Redlining is a reality with San Diego real estate lending. Santa Barbara, because of prior limitations on building, may not be suffering the same fate.

By: Santa Barbara Real Estate Voice

Santa Barbara Real Estate Voice — Tue, 22 Apr 2008 16:16:35 +0000

Wow…After reading the article as well as some of the comments…that is amazing to hear. I have heard about this before and also read some articles myself. Luckily we have never had any of this pop up in the Santa Barbara areas.

Hopefully this is not the real case.

By: Roberta

Roberta — Tue, 22 Apr 2008 14:40:10 +0000

Paul,

I don’t think there is a particular red zone map for San Diego real estate; rather, the lenders painted the entire county a bright shade of red.

To do otherwise would be a federal violation.

Hope it’s removed soon.

By: Paul

Paul — Tue, 22 Apr 2008 02:33:09 +0000

Great Information! Is there a map outlining the “redzone”?

By: Roberta

Roberta — Mon, 21 Apr 2008 03:24:05 +0000

Susan: We were told by two direct lenders that the red lines have been drawn all around San Diego County and its real estate.

By: Susan Hilton

Susan Hilton — Mon, 21 Apr 2008 01:05:06 +0000

I’d like to see the map and see where ALL the lenders are really drawing those red lines throughout the country!

By: Roberta

Roberta — Sun, 20 Apr 2008 19:37:34 +0000

Billy:

We and our San Diego real estate buyers are negotiating terrific deals on very desirable real estate. Lenders should take this into account instead of subtracting an arbitrary 5 percent off the appraised value.

The San Diego real estate market has enough problems without lenders adding unnecessary fuel to the fire.

By: Billy

Billy — Sun, 20 Apr 2008 15:16:31 +0000

If you were in business of lending money……Would you lend money at prevailing rates to buyers today with less than 20% down?
Yes, lenders are in the business of lending money but at what point do they insist on having some legitimate cushion against people walking away from their homes when times get a little tough.
It may not be legal to “redline” but if I’m in business and want to stay in business, I’d find ways to do just that.
Your clients are successful dual income consumers that sound like they may have to learn the lesson of their parents….save, live within their means , sacrifice, and the big lesson for us all….no one owes us anything.
Your client may be different, each has a different story, but many need the lesson that we all are learning the hard way.

By: Real Estate/Buisness News » Blog Archive » Are Lenders Redlining Entire Cities?

Sun, 20 Apr 2008 00:56:28 +0000

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