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cjjorgensen (November 30, 1999 at 12:00 am)
I am a traveling notary and I saw hundreds ot these. It is a crime for me to give my advice or opinions becuase I am not an attnory, so I had to keep my mouth shut. But what I was was people who got themselves maxed out in debt with big cars, and mall credit cards, then got a neg am loan to cover it. Pay cash and don't live beyond your means, and you won't need a neg am loan.
MacPercuss777 (November 30, 1999 at 12:00 am)
Thanks for posting this. I learned something.
ApollosWorld1 (November 30, 1999 at 12:00 am)
Hey Dan. Youd did good.
I knew you from Great American Mortgage.
I was your rep from MILA.
george4title (November 30, 1999 at 12:00 am)
Thanks
mikeeor (November 30, 1999 at 12:00 am)
Man are you way off. I don't believe any one particular loan is appropriate for everyone. Need to explain better what amortization is. What about time value of money, leverage cash flow. I agree, these loans are really bad for most. All the same, nice work.
khanzh (November 30, 1999 at 12:00 am)
want dan the man to get on youtube on a regular basis, we want more info!!!!!!!11
seanmg (November 30, 1999 at 12:00 am)
I used to work at a mtg co. and I never offered these types of options. Fastest way to owe more than your home is worth short of just getting a 110% LTV loan.
artistknownasbeavis (November 30, 1999 at 12:00 am)
Yea but Dan didn't tell you the rate is higher without a prepayment penalty. Some states have pre-pays and some don't but if you can't get the "A" loan then your rate might be higher WITHOUT a prepay.
artistknownasbeavis (November 30, 1999 at 12:00 am)
It has a place for investors - some investors want the lower payment as they are going to sell in 1 year so it has a purpose in some instances.
mortgagenewyork (November 30, 1999 at 12:00 am)
Excellent explanation. Deal with real mortgage professionals, not scammers. |
