Underwater Mortgage? Walk Away!
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Video Rating: 4 / 5
www.MortgageHelpLosAngeles.com. Before sub-prime mortgages, where consumers interested in getting reasonable interest rates on loans with small down payments, marginal credit scores, and high payment to income ratios were able to get funding, there was the FHA. The FHA was set up to help those with more difficult loans get insurance for the payments, so that lenders would be willing to fund the loans. Bill Rayman is a very successful Los Angeles Based Mortgage Broker who can help you find the perfect approach to maximizing your goals in home purchases, refinances, or investments in property. This video explains the details of FHA financing. To reach Bill Rayman, call him at 310-295-2900 ext 113. Visit his blog at www.mortgagelosangeles.blogspot.com
Video Rating: 5 / 5
Thank you for your youtube. I have posted it at piggybankblog com with has been created for all those who have been abused by Bank of Destroying America. I am John Wright and I AM FIGHTING BACK!
My Strategic Home Default
Why does it matter if your home is worth less now then when you bought it. If you bought the home to live in, then it is still the same house now as it was before, just live in it. If you bought the house as an investment then you made a bad investment. Can someone please explain why it matters what the current value of your house is if you are going to live there for another 20 years. The value only matters if you are going to sell your house in the near future.
I first purchased a larger home, then walked away from one that I was upside down in. That was last year and I’m glad I did.
MORAL QUALMS?? YEAH LETS TALK MORALS: LETS TALK ABOUT THOSE HONEST BANKS TAKING MILLIONS OF SUBPRIME ( AKA RISKY) MORTGAGES AND FRAUDULENTLY LABELING THEM AA AND AAA RATED SECURITIES , SELL THEM TO OTHER FINANCIAL INSTITUTIONS AROUND THE GLOBE FOR BILLIONS IN PROFITS KNOWING THEY WERE GOING TO GO BAD. I FEEL SO
MORAL QUALMS?? YEAH LETS TALK MORALS: LETS TALK ABOUT THOSE HONEST BANKS TAKING MILLIONS OF SUBPRIME ( AKA RISKY) MORTGAGES AND FRAUDULENTLY LABELING THEM AA AND AAA RATED SECURITIES , SELL THEM TO OTHER FINANCIAL INSTITUTIONS AROUND THE GLOBE FOR BILLIONS IN PROFITS KNOWING THEY WERE GOING TO GO BAD. I FEEL SO
LOL! The only ones to blame are the realestate agents who vend cheap money to idiots.
Im walking away… they foreclose…
@TheTwiggyHere
Wall street created the bad loans, and then wanted the bad loans to fail. Wall Street bought insurance against these loans, hoping they would fail. Feel any differently now? Tune into the news, because it’s finally making the headlines. Goldman Sachs can go rot in hell.
@freepress666 –Is there a website?
My account is currently on hold pending payment up to date. Do I call them and let them know I am walking away and just let it go into foreclosure? Do I move out? Will I be stuck with the balance of the mortgage if it sells for less?
I agree with you, I should take your advice. thanks!
I have to say I agree with your solution to just “walk away”. So how do you feel about the Federal Reserves involvement in all of this? I know you mentioned JP Morgan as an example but the real reason they were able to pay back the tarp funds was because they are a part owner of the Federal Reserve. So to pay back the tarp money they just just took it from the Fed. in either case the money comes from us.
Your idealism is refreshing, and if we were all playing by the same rule book, I would say you had a point. But the reality is that Wall Street is the primary culprit of this bubble. Through their fancy mortgage-backed debt obligations, they created a hot air balloon that rose to stratospheric heights. Unfortunately, we’re all suckers because they had parachutes, and jumped out when the balloon popped. Guess who’s still inside?
Your idealism is refreshing, and if we were all playing by the same rule book, I would say you had a point. But the reality is that Wall Street is the primary culprit of this bubble. Through their fancy mortgage-backed debt obligations, they created a hot air balloon that rose to stratospheric heights. Unfortunately, we’re all suckers because they had parachutes, and jumped out when the balloon popped. Guess who’s still inside?
Are you SERIOUSLY telling people to collapse the market and push our recovery off 10 more years? People actually considering this to be a viable concept are also HandOUT vs. HandUP? When you sold at a profit in the past, did you hand that money to the bank and thank them? When you buy any investment, there is a risk. So, all of you are now going to point the finger because it couldn’t possibly be your fault. Own your responsibilities. THIS is not the answer. We will ALL get through this.
my ”american dream” is now a nightmare – i’m getting ready to walk – if all of us that were ‘had’ by these scheming devils did so, it might take care of the problem
Amen to that.
good idea
well said
Do not run from the mortgage, you can A4V it yourself and it will be paid off
Goggle Doug Riddle Pass word, methis
Any public debt can be paid off this way
– The Power of the People on Top Depends on the Obedience of the People Below!
- Howard Zinn
food. water, and housing shouldn’t be why people work jobs.
the system is a scam.
Thanks for the information. Looking forward to it.
a mortgage is only a contract and most of you paid mortgage insurance to cover walking away
remember!
course we all pay to cover the loss
which is why every American should be given a home immediately and make it fast before China and the Saudis buy everything up cheap
oh and before you bail
get a lawyer
@herenext – Hello I am a mortgage banker in Orange County,Ca. I would be interested in this …What are you charging for the call center leads ??
Hello, Im from Argentina and I m looking for a broker who can help me on this. A few days ago I been talking to a broker because I was planing to start to call Homeowners for refinance mortages. Of course I have a database (30.000 homeowners to call) to work on my call center. But We desagree on some points of our contract. Are you interest in this type of business?
Please let me know because I need to start to do this business before someone start it first.
bye
People that are self employed might be comfortable paying 1700 /month for rent, but then if they get into a mortgage; even if it is less say 1200, they still might not be able to keep up with the payments, Due to the fluctuations of the economy, and these loans are for the people who are not that well off financially. They Should not be abused like that!
great informative lecture..great speaker..thank you for the info
What is the Key disfavors by Having Your Mortgage
realmortgagepaid.blogspot. com