American Mortgage Funding
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Laurie Said:
What good reason for not bailing out the American auto industry with taxpayer funding after "Wall Street"?We Answered:
Taxpayers can't support all the failing companies. The companies need to start taking responsibility and solve their own problems.Elaine Said:
What if..every single American stopped paying their mortgage.?We Answered:
Well, that would be interesting, but what would happen if everyone just didn't go to work for a week or a month also? The Government would lose so much tax revenue they would HAVE TO START DOING WHAT WE TELL THEM TO LIKE VOTING HELL NO ON FATCAT BAILOUTSAllen Said:
Why does America need a "mortgage czar"?We Answered:
As a mortgage broker, I will tell you that Congress is getting involved for political reasons...NOT for the best of the American people. The truth is that irresponsible mortgage brokers (and there were many BUT not ALL of us) referred bad mortgage applicants to banks who would later foreclose. Now, adjustable rate mortgages is not a bad product. You are talking about those ARM with the 1% interest rate for 6-months before it turns into a 7.8%. No, I'm talking about Hybrid-ARMS...these are good loans for CERTAIN people that intend to live in their homes for a short period of time (range from 2-10 years) and don't want to pay alot in interest.Now, what should happen is that lender's should stop providing stated income programs for salaried employs. Congress should also regulate REALTORS as well. Why realtors....well because I can't tell you how often a realtor comes up to me with an unqualified prospective home-buyer (and the realtor knows this most of the time) AND when I cannot "do the loan" for this individual they then tell me "I will go with someone who can."
What this means is that they will go with someone who will commit fraud. As you can see, this causes mortgage brokers to do unethical things to stay in business. Remember, WE GET MOST OF OUR BUSINESS THROUGH THE REALTOR . Thus this makes it hard for ethical brokers to stay in business because realtors are only thinking about how fast they can sell the house and to have a reputation for quick sells. It's a sad part of the equation NO ONE TALKS ABOUT.
Caroline Said:
Anyone used American Home Partners to finance construction of their home?We Answered:
from what i know, they will front up the money for property, you pick what house you want, decide how much you want to build, the more you do you cut down on the labor costs, they allow money for each phase of construction you have to budget to complete the phase. everything is included in the price basically, building materials, insulation, drywall, shingles whatever. they front up the money for everything, you then build it paying them back interesti know of a few people who have used this program and it seems like a really good deal. my advice would be not to take on too much of the work, you might get overwhelmed. they give you like 10 o r 12 months to finish but the quicker your done the less interest to pay them back. im going thru them to build a house myself.
Sara Said:
"Kidnapped" American girl "found" by Metodo 3?We Answered:
Neuro linguisitic programming by the British press, Clarence Mitchell and the Metodo 3.The news is not news and therefore sensationalist reporting the fogs the issue and detracts from the parents...keeping the fund legitimate....sickening