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I on the web every day and didn't know my mortgage qualify for the bailout money. Today I went to Bank of America to express my balloon concert and found out if you have fredie mac you can get the bailout. I have been making payment to Bank America so didn't know fredie mac was in the mix. I am so happy I don't have to come up with 40k.
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Re: Balloon mortgage
So you got one them baloon mortgage that blow up inall the buyers faces? You are lucky, that Obamagot elected.
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Re: Balloon mortgage
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Re: Balloon mortgage
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">So you got one them baloon mortgage that blow up inall the buyers faces? You are lucky, that Obamagot elected. </div></div>
What? I see many people driving 40k car tag so that's no money. mi could pay off that in cash. Im not yet upside down but I still wont make much if I sell. Is there a problem with using the program that's available the white folks been doing forever.
I still think bank ameriaca isn't offering me the best deal. Any one know of phone number I may be able to get info on obama program?Comment
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Re: Balloon mortgage
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: foolya</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">So you got one them baloon mortgage that blow up inall the buyers faces? You are lucky, that Obamagot elected. </div></div>
What? I see many people driving 40k car tag so that's no money. mi could pay off that in cash. Im not yet upside down but I still wont make much if I sell. Is there a problem with using the program that's available the white folks been doing forever.
I still think bank ameriaca isn't offering me the best deal. Any one know of phone number I may be able to get info on obama program? </div></div> As long as you haveequityyou don't have to re with Bank america.
Check around for your self instead of making themdo the leg work. Remember that they are only themiddle man you know.It is all about the fed Funds.Comment
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Re: Balloon mortgage
Now that I am qualified for loan modification have some questions. Should I take 30yrs or 5yr ARM? I want to sell in the next 2 years, but if the market keep falling I may become upside down and might get stuck with the 5yrs ARM. I like the ARM because my payment is lower so what shall I do? Exactly, what's an ARM and what risk is associated with it at the 5yrs?Comment
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Re: Balloon mortgage
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: foolya</div><div class="ubbcode-body">Now that I am qualified for loan modification have some questions. Should I take 30yrs or 5yr ARM? I want to sell in the next 2 years, but if the market keep falling I may become upside down and might get stuck with the 5yrs ARM. I like the ARM because my payment is lower so what shall I do? Exactly, what's an ARM and what risk is associated with it at the 5yrs? </div></div> Since the law now has a protection against pre-payment penalty, take the 30 years. since ther is nothing to stop you in the future from refinancing it in case therates miracululously gets lower.
with the foreign lenders start reducing their purchases of US treasuries,. The trend seem to point to higher rates in the future. And It is seem like the trend will be like that for atleast in the short term.
My opinion is that the rates is unlikely to in the short term go low enough for you top benefit from it. So My opinion is go with th e30year fixed. you can always refuinance later if it is attractive enough. Th ebenefir from the arm at th emoment is really anopther trick. That is a s far as my opinuiongoes. Now I am noty a licenses financial advisor,m
. Do i can only tell you what I would hav edone if I was inyopur position.Not what you should do.Comment
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