Good video. I guess they simplified the home loan process by neglecting to disclose to purchasers the details of how the rates would adjust and how much their payments would increase, and that they'd face huge prepayment penalties if they'd try to finance, huh?
Do you know anyone who got one of those loans on which the rates were adjusted DOWNWARD after a period of consistent payments? I never heard of that happening.
"adjusted DOWNWARD after a period of consistent payments?"
That's the problem the interest went up. He probably meant that they could refinance for a lower fixed rate when their credit was established. I'm just guessing though because that's not what he said.
Sad thing is I've heard that many could have qualified for a 30 yr. fixed loans but were sold these variable ones instead.
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Looks the like the government had a knowing
Good video. I guess they simplified the home loan process by neglecting to disclose to purchasers the details of how the rates would adjust and how much their payments would increase, and that they'd face huge prepayment penalties if they'd try to finance, huh?
Do you know anyone who got one of those loans on which the rates were adjusted DOWNWARD after a period of consistent payments? I never heard of that happening.
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http://www.pnhp.org/news/2009/october/meet_the_new_health_.php
http://www.youtube.com/watch?v=DQTBYQlQ7yM
"adjusted DOWNWARD after a period of consistent payments?"
That's the problem the interest went up. He probably meant that they could refinance for a lower fixed rate when their credit was established. I'm just guessing though because that's not what he said.
Sad thing is I've heard that many could have qualified for a 30 yr. fixed loans but were sold these variable ones instead.
Sad thing is I've heard that many could have qualified for a 30 yr. fixed loans but were sold these variable ones instead.
That is exactly what happened to me, except I refused the variable rate loan.
I was not able to watch the whole video, but the program he was talking about did not appear to be an ARM program.
"I was not able to watch the whole video"
That's too bad.
Bush specifically said, on the video, the Fannie & Freddie would be provided with federal monies, at least
"Bush specifically said, on the video, the Fannie & Freddie would be provided with federal monies, at least
"Bush specifically said, on the video, the Fannie & Freddie would be provided with federal monies, at least
How was it predatory?
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