Comments on: OPT ARM – MAX FEES Cousin? http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sat, 07 Nov 2009 02:53:18 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: World Savings to Brokers “Just call it ‘deferred interest’” http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/comment-page-1/#comment-11021 World Savings to Brokers “Just call it ‘deferred interest’” Thu, 22 May 2008 06:09:57 +0000 http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/#comment-11021 [...] think this guy used ‘deferred interest’ don’t [...] [...] think this guy used ‘deferred interest’ don’t [...]

]]> By: David Bredin http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/comment-page-1/#comment-10170 David Bredin Tue, 04 Mar 2008 18:12:13 +0000 http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/#comment-10170 Ok, let?s take the broker's argument at face value: So you can advocate ARMs in a market heading for a downturn (where FRMs were at record lows, btw), and rely on ?sophisticated buyers? to realize you?re a half-wit. Why would I hire someone so useless? "Hey, don't worry about it. Property values are going up and then you?ll make a killing!? Correction: Worse than useless. Realize you?re far from indemnified by saying ?The buyer should?ve read what he signed?. Lawyers can be very creative at depositions (can you say ?withholding information??) and may even be smart enough to outwit you savvy real estate moguls. Just ask the S&L tycoons who are now unemployable ex-cons with federal rap sheets. The current home crisis was brought on by snake-oil salesmen hawking ARMs and interest-only sucker loans to keep the bubble going. Well congratulate yourselves, it worked. The commissions you ?earned? should probably cover discovery, court costs, fines and attorney?s fees. But you might need a second mortgage to pay the settlements. Ok, let?s take the broker’s argument at face value: So you can advocate ARMs in a market heading for a downturn (where FRMs were at record lows, btw), and rely on ?sophisticated buyers? to realize you?re a half-wit. Why would I hire someone so useless?

“Hey, don’t worry about it. Property values are going up and then you?ll make a killing!?

Correction: Worse than useless.

Realize you?re far from indemnified by saying ?The buyer should?ve read what he signed?. Lawyers can be very creative at depositions (can you say ?withholding information??) and may even be smart enough to outwit you savvy real estate moguls. Just ask the S&L tycoons who are now unemployable ex-cons with federal rap sheets. The current home crisis was brought on by snake-oil salesmen hawking ARMs and interest-only sucker loans to keep the bubble going. Well congratulate yourselves, it worked. The commissions you ?earned? should probably cover discovery, court costs, fines and attorney?s fees. But you might need a second mortgage to pay the settlements.

]]> By: Morgan http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/comment-page-1/#comment-9853 Morgan Mon, 18 Feb 2008 02:14:48 +0000 http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/#comment-9853 Anthony Longo » amen brother. Anthony Longo » amen brother.

]]> By: Anthony Longo http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/comment-page-1/#comment-9791 Anthony Longo Fri, 15 Feb 2008 13:17:43 +0000 http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/#comment-9791 Nothing that has to do with the mortgage industry surprises me anymore! Nothing that has to do with the mortgage industry surprises me anymore!

]]> By: Mortgage Jerk | Boston Condo and Luxury Boston Real Estate Blog http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/comment-page-1/#comment-9790 Mortgage Jerk | Boston Condo and Luxury Boston Real Estate Blog Fri, 15 Feb 2008 13:15:14 +0000 http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/#comment-9790 [...] here) although it would be just as funny.  I saw this reading one of our favorite mortgage blogs - BlownMortgage.  Must have been a Countrywide guy!  Thought it would be a great post for sunny [...] [...] here) although it would be just as funny.  I saw this reading one of our favorite mortgage blogs – BlownMortgage.  Must have been a Countrywide guy!  Thought it would be a great post for sunny [...]

]]> By: JS http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/comment-page-1/#comment-9729 JS Tue, 12 Feb 2008 01:19:22 +0000 http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/#comment-9729 LMAO, even though it's sick. I wonder if "Neg Am" is still available? LMAO, even though it’s sick. I wonder if “Neg Am” is still available?

]]> By: Brent http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/comment-page-1/#comment-9671 Brent Fri, 08 Feb 2008 03:06:29 +0000 http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/#comment-9671 The loan is not the problem , just like guns dont kill people people kill people. Option ARM did not kill the housing market. Idiots taking out an option ARM so they could buy more house is the problem. How do you know its a Lenders car? Could be a Realtors or Builders? or the worst thief of them all Title Insurance Companies. Anyway Option ARMS are for Investors who are attempting to manage cash flow. Not idiot Homestead buyers.. not a good idea.. and yes many sold them and did not fully explain but I am sure the closing docs has it fully disclosed.. No one forced you to sign those papers. I live in Texas we dont sell those here or not to many. I think I closed 3 my entire 11 years now. Everyone cant be a victim I am sure many knew what they were doing. They did not notice their loan balance going up every month??? I pretty the lenders send out statements showing that.. The loan is not the problem , just like guns dont kill people people kill people. Option ARM did not kill the housing market. Idiots taking out an option ARM so they could buy more house is the problem. How do you know its a Lenders car? Could be a Realtors or Builders? or the worst thief of them all Title Insurance Companies.

Anyway Option ARMS are for Investors who are attempting to manage cash flow. Not idiot Homestead buyers.. not a good idea.. and yes many sold them and did not fully explain but I am sure the closing docs has it fully disclosed.. No one forced you to sign those papers. I live in Texas we dont sell those here or not to many. I think I closed 3 my entire 11 years now.

Everyone cant be a victim I am sure many knew what they were doing. They did not notice their loan balance going up every month??? I pretty the lenders send out statements showing that..

]]> By: j http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/comment-page-1/#comment-9668 j Fri, 08 Feb 2008 01:33:35 +0000 http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/#comment-9668 Unfortunately I know someone with the license plate "GOSTATD" Unfortunately I know someone with the license plate “GOSTATD”

]]> By: Mortgage Truth http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/comment-page-1/#comment-9665 Mortgage Truth Thu, 07 Feb 2008 22:43:53 +0000 http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/#comment-9665 Wow someone actually purchased that license plate? I saw "LOW RATZ" on the license plate of a Range Rover the other day... Wow someone actually purchased that license plate?

I saw “LOW RATZ” on the license plate of a Range Rover the other day…

]]> By: Ann http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/comment-page-1/#comment-9663 Ann Thu, 07 Feb 2008 22:25:38 +0000 http://blownmortgage.com/2008/02/07/opt-arm-max-fees-cousin/#comment-9663 How they keep the car from getting keyed, stolen, broken into or wrecked? How they keep the car from getting keyed, stolen, broken into or wrecked?

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