If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Which is more unbelievable: that “How to Get Rich Quick in Real Estate” courses are still actively being marketed or that people might still be buying them?
LEARN FROM THE AUTHORITY IN REAL ESTATE INVESTING
Looking to jump into the realestate [...]
Well, leave it to the folks who brought you Woohoo! to bring you the latest in marketing for failed banks – pimping your new sugar daddy. WaMu’s headline in-branch flyer reads: “We love Chase. And not just because they have a trillion dollars.” Actually, it’s precisely because of their money, but I [...]
You just have to watch this. Classic. Amazing how the leading trade organization for real estate sales professionals can get away with blatant lying. Hat tip hp
CBS Channel 5 up here in the Bay Area blows the cover off of some internal World Savings “Broker Training” videos that show brokers how to obfuscate and sell the Pick-a-Pay Option ARM to borrowers. You can view the training video here.
My favorite line?
“Most brokers refer to them as negative amortization, but we try [...]
We all know that the process of getting a loan modification seems like throwing time, effort and paperwork in to a black hole. We also know that the lenders aren’t set up to handle the requests very well, as their outsourced call centers can’t make any real decisions and the volume is cripling the [...]
Well welcome to stated valuations. That’s right. A new bank is now offering “stated valuations” or SVSI (stated value, stated income) without an appraisal check. Claiming “Purchase Money Without the Hassles” nomoreappraisals.com let’s LOs register to get immediate access to their rate sheets. The rates are obviously higher, but not what you’d think for such a product. [...]
Thanks to a Blown Mortgage reader for sending this gem in. From the “you can’t make this stuff up” department I submit for your pleasure and pain the license plate “OPT ARM”. As the submitter said:
I wonder how people who’ve been swindled into an Option ARM feel when they see this car driving [...]
I’m back. Hold your applause please.
It has been several weeks since my last post. I promised the Blown Mortgage cognoscenti that I wouldn’t write posts unless I was moved to do so. I should probably be moved more often, but I digress.
The past four days have been a whirlwind at Brown Ram [...]
396%? How can someone who does something like that sleep at night?
Check out the story here……
I know it’s not actually mortgages, but it’s finance/lending related and it’s nasty.
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