Reply With QuoteOne of the gals that I work with said her mortgage is 23% :jawdrop: On her house:jawdrop:
I just don't understand that:idea:
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One of the gals that I work with said her mortgage is 23% :jawdrop: On her house:jawdrop:
I just don't understand that:idea:
One of the gals that I work with said her mortgage is 23% :jawdrop: On her house:jawdrop:
I just don't understand that:idea:Another case of mortgage abuse.
THE BOTTOM LINE IS YOU ARE TOLD AND SHOWN YOUR COST,ITS THE BUYERS FAULT THAT HE SIGNED,NO ONE ELSES,MOST COULDNT AFFORD IT CHEAP AND NOW LOANS PAYMENTS GO UP,ANYONE THAT BOUGHT WITHIN THE LAST 3 YEARS IS IN FOR AN EYE OPENER,GOOD LUCK!!!!!
THE BOTTOM LINE IS YOU ARE TOLD AND SHOWN YOUR COST,ITS THE BUYERS FAULT THAT HE SIGNED,NO ONE ELSES,MOST COULDNT AFFORD IT CHEAP AND NOW LOANS PAYMENTS GO UP,ANYONE THAT BOUGHT WITHIN THE LAST 3 YEARS IS IN FOR AN EYE OPENER,
thats not always the case.
I think with any business you are going to have your good peeps and bad, whether it's mortgages, boat repair, auto repair etc. The lenders that do it right will be fine. It's the ones that got in during the last couple of years that are going to hurt. they got in and made as much as they could and now its not there anymore. If the loan officer's are doing it right and taking care of their clients with fair and honest deals they will make it through the hard times. I am going on 11 years and the majority of my business is reltors and referral based. You don't keep that by screwing people!
THE BOTTOM LINE IS YOU ARE TOLD AND SHOWN YOUR COST,ITS THE BUYERS FAULT THAT HE SIGNED,NO ONE ELSES,MOST COULDNT AFFORD IT CHEAP AND NOW LOANS PAYMENTS GO UP,ANYONE THAT BOUGHT WITHIN THE LAST 3 YEARS IS IN FOR AN EYE OPENER,
did you notice I said cost added to the backside usually in small print.
I think with any business you are going to have your good peeps and bad, whether it's mortgages, boat repair, auto repair etc. The lenders that do it right will be fine. It's the ones that got in during the last couple of years that are going to hurt. they got in and made as much as they could and now its not there anymore. If the loan officer's are doing it right and taking care of their clients with fair and honest deals they will make it through the hard times. I am going on 11 years and the majority of my business is reltors and referral based. You don't keep that by screwing people!
I agree...
With the declining home markets and the decline in mortgage applications,do any of us really feel sorry for the the mortgage industry? After over charging and adding fees to the backside of most mortgages this line of business is getting what it desreves. I had a friend quit doing mortgages after years of screwing people over ,he said he didn't like doing it anymore. The goverment needs too look long and hard on how the business is ran.And should we bailout this industry for them handing out subprime loans?
I have not seen a post this focking stupid in a long time!
You know what, working in the mortgage industry right now is like working for the LA PD. You have a bunch of people looking in criticizing the whole industry for a few people's mistakes. One one hand you have people that are begging US to lend THEM money, well guess what.... Ive got every right to do with MY money what I want to!!! So if I feel that you have a history of not paying back debt and want to charge you 23% because the RISK assiciated with GIVING YOU money, then thats what you will have to accept. You have always got a choice. You choose to buy a house, boat, car, misc items you cant afford with cash. You choose to sign those papers that state what your interest rate is, your cap rate, your prepay penalties, and the terms in which you agree to payback and the terms in which if you dont pay back we will take what WE paid for. You choose to pay back debt, however you accrued it. If you are a responsible member of the credit society then you will get loans handed to you on a silver platter.... low rates, no prepay, low fees.... However, if you are the other.... then you did it to yourself.
With our company, we lend on the subprime side. With that said, we have always been known as the conservative lender in the subprim industry and my brokers would complain about it. Now we are one of three MAJOR lenders left, and its because of the conservativeness. We now go by the net tangible benefit analysis that New Mexico does and not many people are qualifying for loans anymore. Sucks for them, looks like they are going to loose their house...but its because of the flack that the industry has recieved that everyone tightened their guidelines soooo much and now no one qualifies.
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