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Housing

No Docs? No problem…Until now

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By Douglas A. McIntyre Published
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From The Stock Masters

Christmas is around the corner, and I ain’t gonna have no money to buy my son the G.I. Joe with the kung-fu grip! So they’re panicking right now, they’re screaming "SELL! SELL!" to get out before the price keeps dropping. They’re panicking out there right now, I can feel it." ~ Eddie Murphy, Trading Places
Housing has been on a tear for the last decade and the inevitable happened, people realized if a company is not able to earn a profit, or even demonstrate a realistic plan of how they might, it really is not worth $144 a share and the prices of these stocks then fell off a cliff.
Trading PlacesThere are three main categories of no-documentation mortgages:
1. NINA (no income, no asset) mortgages
2. No-ratio mortgages
3. Stated-income mortgages
There are trillions out there looking for a home to grow in, what happens to the bottom 1% or 2% to the mortgage market will not really effect us except entice those trillions to look for a better home. The US stock market welcomes you.
Do not let the doomsayers out there scare you, let them panic and keep your cool like Billy Ray Valentine… see the movie. Read article at ValuePlays…

http://www.thestockmasters.com/index.asp

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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