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NoticeOfDefault (November 30, 1999 at 12:00 am)
Currently in the US forecloses are at a high.
So much the Banks are overwhelmed and they are now bowing willing to renegotiate loans to curb foreclosure.
They are not even considering your FICO because they already know the financial issues most Americans are experiencing.
Keep your home get the facts act before your insolvent.
HowardsViews (November 30, 1999 at 12:00 am)
It's all tied in with the credit cards, and what I predicted years ago. As an owner of a small business, when they revved up the Air Miles (the bribe) and began stealing (extorting) my profits, it was pre-ordained that this would come about. Like the junk bonds before them, there comes a day of reckoning. Judgment Day. You're brighter than me, more succinct in stating it.
Big Banks are ruthless, Mafia families, and both borrowers and others who do business with them get shafted.
Thanks.
KARStarla (November 30, 1999 at 12:00 am)
Oh I forgot to ask, if I'm paying 5.25% on my original mortgage of $150,000 and now my balance is $122,000 when my VA adjustable loan goes up, whats it go up to? I was under the impression it might go up 1% point a year and so (in my thinking) I thought I might need to pay 6% on my current balance of $122,000 which is doable for me, am I wrong? Is there something I dont understand about these loans? Whats my worst case here?
Scared, can you help?
KARStarla (November 30, 1999 at 12:00 am)
Am I screwed? I'm a Veteran and was given a 5.25% VA loan and I'm at the 5 year period where it can adjust. The house we bought was $155,000 our balance is $122,000 and it was appraised at $204,000 we have excellent credit (never paid nothing late, no debt etc) but got turned down only because my house was not "comparable" to houses in my neighborhood... whats that about? I got turned down from my own mortgage company who is financing me already. Is there another reason?
indianrepublican (November 30, 1999 at 12:00 am)
I don't necessarily advocate drawing down one's HELOC like you state. However you do make some excellent points in this video and others you've posted. God Bless.
moneymagnetelizabeth (November 30, 1999 at 12:00 am)
I own my home for retirement, and if you do not do equity then the banks bleed you through property taxes. Your community is borrowing from the banks - and the banks are involved with the insurance industry and making policies that are not affordable and do not cover minimal. If you want coverage then they try to sell you an umbrella. WHERE IS CONGRESS - SHUT THESE BLOOD SUCKUNG THIEVES DOWN!!!!!!!!!!!!!!!!!!!!!!!!!!!!
vladimir4055 (November 30, 1999 at 12:00 am)
Thank you.
robertf97 (November 30, 1999 at 12:00 am)
The banks don't need to sell or write down HELOCS they just wait for you to pay them at full value. If you don't you get to declare bankruptcy, you don't get to buy it back for "$.30" on the dollar.
john67elco (November 30, 1999 at 12:00 am)
My favorite mortgage guy 100%.
mrbadde1 (November 30, 1999 at 12:00 am)
Mark.. Oh how we missed ya! |
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