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Lending RIP
WaMu is next. Lehman Brothers has filed for bankruptcy.
Fannie and Freddie:
Do you need a loan? Contacting only one , two , or three lenders/brokers is not enough in today's market. Why? many banks and financial institutions are no longer lending. Many closed down. Do you need a loan? It is possible to get a good loan now. To increase your chances you must contact 6-20 Lenders/brokers . There are many banks and private investors that are still arranging loans . To get a loan your strategy should be: 1. write down a simple loan request 2. Contact by phone or email or fax as many brokers/lenders as you can find (you may use lendinguniverse.com to find lenders) 3. Send your simple request to the lenders 4. Find out what documents they need and what they can offer ( rate, terms ,fees , conditions, etc.) 5. Provide the additional information 6. Now, when you know better what to expect, update your simple request to include additional data. and 6b. repeat steps 2-6) 7. Compare loan offers 7b. Even if the offers seem very attractive you must repeat steps 2-6. See below for the why 8. Select the best proposal 8b. Be ready to switch to the "second best" or "third best" 9. Repeat steps 2-9 . 10. Proceed to close * You may use Lendinguniverse.com website. They are not a lender nor a broker. LendingUniverse.com is a lending market place operating as a giant lending-bulletin-board where over 10,000 banks, direct lenders , brokers and private investors are continuously looking at and responding to loan requests posted by borrowers * LendingUniverse.com offer a FREE advance software that enable borrowers to keep track and compare all lenders rates fees and conditions.
Fannie and Freddie: What the Bailout Means
Lehman Brothers has filed for bankruptcy Mozart Requiem fits the video tombstone and RIP engraved for all lenders who are no longer with us in the past 2 years
Channel: People & Blogs
Uploaded: November 30, 1999 at 12:00 am
Author: moshon2007
Length: 06:35
Rating: 5.00
Views: 907
Tags: aig bank bankruptcy brokers Brothers commercial credit crisis Fannie fha fnm foreclosure Freddie hard Lehman lenders lendinguniverse.com loan money mortgage prime sub WaMu
Video Comments
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idrobinhood (November 30, 1999 at 12:00 am)
AIG,, just made the Federal Reserve more money to lend out to banks. Its pretty sad when the bank lender, starts handing out loans to mortgage companies. $84 Billion credited to AIG, Federal Reserve does a flip on the 9:1 ration just to loan to other banks and take on bad debt. Its a revolving cycle of abuse of the money system.
Domino affect will take hold.
jiminiflix (November 30, 1999 at 12:00 am)
I am amazed how many!Sorry but it makes me to trust no lender! This is such a serious issue, and the news makes little mention of it!
go4thus (November 30, 1999 at 12:00 am)
OMG I had no idea it was this many!
vleon1012 (November 30, 1999 at 12:00 am)
LOL nice choice of music.. Mozart :~) |
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