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Rose Gallagher has been named Luzerne County Family Group Decision Making coordinator for the Greater Hazleton Area. She earned a masterâ€™s degree from Temple University and previously served as casework manager at the Hazleton Center of Luzerne ...

People the Move - Scranton Times

Zions Bank has hired Bill Park as a residential construction and mortgage loan officer. He is based at the bank's Meridian Silverstone office at 3715 E. Overland Road and is responsible for assisting clients in financing the construction of new homes ...

Your business community - Idaho Statesman

WATERBURY â€” Everyone knows the economy stinks, that money is tight and that people are not spending as much. But retired Waterbury police officer Charles LeStage has learned that people are still willing to reach out to someone in need. Earlier ...

Community reaches out - Waterbury Republican-American

WASHINGTON â€” The global financial system was teetering on the edge of collapse when President Bush and his economics team huddled in the Roosevelt Room of the White House for a briefing that, in the words of one participant, â€œscared the hell out ...

White House Philosophy Stoked Mortgage Bonfire - The Ledger

Area mall owner and Columbia master developer General Growth Properties Inc. said yesterday that it is still negotiating for an extension of the maturity date on $900 million in mortgage loans for two Las Vegas malls. The real estate investment trust ...

Developer GGP negotiating for an extension on $900 million in mortgage ... - Baltimore Sun

Tony Jabon had an e-mail in to his mortgage broker by 10 a.m. The 35-year-old environmental consultant in Charlotte, N.C., had heard about the Federal Reserve's decision to cut its key interest rate to nearly zero and wanted to refinance to something ...

FALLING INTEREST RATES: Christmas list addition: refinance Fed move ... - Las Vegas Review Journal

mortgage, mortgage calculator, mortgage rates, home mortgage, mortgage refinance - Just this month, The New York Times reported that mortgage rates are expected to fall to the mid-4% range and a refinancing boom won't be far behind (A Rush Into ...

Ready to Refinance or Waiting It Out? Set Your Target Mortgage ... - PR Inside

"We can put light where there's darkness, and hope where there's despondency in this country. And part of it is working together as a nation to encourage folks to own their own home." -- President Bush, Oct. 15, 2002 WASHINGTON -- The global ...

A housing crusade that went awry - Herald Tribune

Joe Bragg's Bel Air backyard garden is so Margaritaville, it'll have you searching for the lost shaker of salt. "They call me 'Coconut Joe,'" said the mortgage loan officer, whose lush, tropical-themed backyard is a tribute to Jimmy Buffett's popular ...

Gardener of the Week - Baltimore Sun

Thomas and Dalia Lawyer bought their home in Kingston only six months ago. But starting the paperwork to refinance their mortgage is a "no-brainer." "It would bring our rate down a point-and-a-half, almost two points," Dalia Lawyer says. "That could ...

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Mortgage Loan Officer Questions and Answers

Open Question: Bridge loan on other house that we own (no mortgage) to buy a new home and we can't sell old home. Fourclose?

Wanted to buy a new home (awesome deal, couldn't pass up, $100,000 less than original asking price) we were currently trying to sell our other house we owned (no mortgage) so the bank talked us into a bridge loan for a year. We are having trouble selling the house and only have about 5 months to sell it before the bridge loan is up and we would have to take out another loan with a payment we can't afford. Our loan officer told us we might have to foreclose and it would not hurt our new home because we are making the payments and are even ahead on the payments. We plan on staying at the new home and won't be buying a new home anytime in the future. How will this affect our credit on other purchases? This is the last thing I want to happen is to fourclose. more

Open Question: Does anyone know what the mortgage rate is at now? My husband and I are trying to buy a house.?

I believe it is at 4.5 but our loan officer said it is at 5% more

Open Question: What would be the cheapest way to advertise effectively to every mortgage loan officer in the USA?

I have a product that i would like to sell to mortgage professionals. I need an inexpensive, but not cheesy, way to get in touch with all of them. Any suggestions? Or, how about 100,000 at a time? Low budget. I obviously don't want to infringe on spam laws. more

Resolved Question: countrywide mortgage suspended mortgage..?

my husband was told that he had to get rid of our vehicle loan..have all our closing costs in the bank plus he had to submit all of our bank info and employment info and explain why certain deposits were so high and he also had to pay off a couple of small debts...which he did everything required. We paid the appraisal fee and credit report fee $430. He had mortgage commitment and today they just suspended it because they came back and said that he has to have 2 more trade lines like nimo or a cable bill. They also said he had to have an additional 2 months or mortgage payments in the bank. Since the other bills were in my name he doesnt have any other trade lines, he only can show loans throught the bank that hes had but they said they have to be trade line dealing with housing.We provided them with everything required so why did they wait till after we paid the appraisal and credit report fee to tell us this. They must like wasting peoples time and $. When the loan officer said that she would let the underwriters know that he had no additional trade lines my husband asked what are the chances of still getting approved and she said she doesnt think it will be approved, my husband said fine we will go somewhere else to get approval and she said that we cant because everywhere will be the same and shes following fha's guidelines but if she is following there guidelines then like i said b4 why was this stuff required AFTER we paid the fees because its not a guideline that just appeared now.. more

Resolved Question: What do you respond if asked " why should I hire you instead of someone else "?

I have an interview coming up at a Bank for a pretty competitive position. I need to have a strong answer if asked this question. What would you respond? Additional: Ive had banking experience with 2 different Banks as a Personal Financial Rep. I was a Senior Loan officer dealing with mortgages for 2 years And im also licensed with the department of real estate. more

Resolved Question: How many mortgage loan officers are left in the United States?

How would i get in contact with all of them for very little money? more

Resolved Question: Loan Officer Fraud.. What do I need to do?

At the end of July I applied for a home loan. The loan officer said I was pre-approved at 145k (have the papers) and I began looking for a house. I was told that I needed to put the 5% buy-down for a locked interest rate and loan type. I found a house for 139k and put in an offer that was accepted. During the whole time the house was in escrow, the loan officer kept having problems getting the loan docs to the title company. After almost 3 months of going back and forth, the sellers decided to cancel my offer. The loan officer told me that I would be receiving a check in the mail from Countrywide (who was supposedly the lending company that received my loan buy-down deposit). I did not receive the check. I ended up finding out that she does not work for that Mortgage company anymore, as well. Questions... How could I go about getting my money back? I do have the receipts on the company letterhead with the amount that I gave as well as it stating that if the loan did not go through or I did not find a house, the entire amount would be refunded. Is the mortgage company liable at all in any way, since that is where she was employed at the time and that is where I started the whole loan process? Should I go after the mortgage company and/or her if I decide to take them to small claims court? Any advice on what I could / should do? Thank you very much, more

Resolved Question: How can I be a loan officer?

I am interested in finance industries and being a loan officer. I already have a BA in communication studies. Should I go get another degree in finance? Do I need to have a MA? To be honest, I do not want to go into MBA or MA because it costs more and I am not even sure mortgage or loan related jobs really need such a higher degree? Can anyone help me? I am thinking about going to school again to brush up some of my computer skills. Please help me. I hate my current job and I want to pursue my career. more

Voting Question: Loan or mortgage question.?

Hi everyone I have a question. I am needing to pay off some debts that me and my husband have. We own our home and also one of our vehicles so we could use those as collateral. I have talked to a mortgage officer, but I am wondering if there is just some kind of loan that we can use those 2 things as collateral to get more money. I know that sounds silly but we are needing to pay off a car, fix the roof of our house, do many home repairs, and pay off many household bills that we are behind on. We are behind so far because he was active duty military making very good money being overseas and now that he is home again he isn't making even a quarter of what he was making before. So we are in need of some serious help. If you can help that would be great and if there is anything else that you need to know in order to help me out I'll tell you just let me know. Thanks for your time. I am trying to get a lower payment the payment I am making on my car now is over $500, the mortgage worker told me that my payment with them would be $300 or less. So it will be better on me that way. Also talking about more income. I am a stay at home mom we have 3 kids only one is school age, I have looked into getting a job but all the jobs that I can find will pay for daycare of our youngest 2 children with little left over to help out. I just dont see the point in working to just be able to pay for daycare. more

Voting Question: Want to get approved for a mortgage but the loan officer is saying I don't have enough credit history?

I have 2 credit cards that i have been making payments on since i got them on time but the problem is there both closed now, but iam still making payments, so the loan officer is saying that i need three open lines of credit to get approved. He suggested on opening up another credit card and transfering my balances on that one so i can use my credit history. Ive applied at 2 different banks but was denied a credit card, should i pay one of the credit cards off completely and then apply for one? Will it help me if i do that or should i just make the monthly payments... PLZ HELP trying to be a first time homeowner! Oh for ppl who think I missed my payments i clearly stated iam making payments on time, I closed the cards myself, the credit card company didnt close them, and my score is 660. more

Resolved Question: How is the mortgage industry doing in Michigan?

I was thinking about becoming a loan officer. Is business good right now because people need to refinance because of the economy and low rates? more

Resolved Question: Been Pre-Approved for a Loan for House?

Hi we live in Houston,TX and we have been pre-approved for a $145,000 loan for a 4bdr 2 1/2 bath 2 car garage. Here is the house: http://search.har.com/engine/dispSearch.cfm?mlnum=8391655&backButton=Y My husband is a veteran and is over 10% disabled so we qualify for no down payment. The interest rate is currently at 5.3% for the area,which is very good. But I dont believe that's the fixed rate that's just the adjustable rate. We would much rather go with a fixed rate which might be slightly higher but is locked in for 3 decades. Anyways, being that we have no down payment our loan officer estimated that our mortgage may be around 1200 -1300 which may be a little too much for us. We are looking to pay 1000 the most. Anything under that would be great as well. What do you recommend us doing next? Do we schedule a viewing of the house,get it appraised and possibly negotiate with the sellers to lower the price? The house has been on the market for awhile now. more

Resolved Question: When you purchase a car, the guy who tells you the pmt total. how does he make his money?

I dont know what you call them...the guy that does the financing part. how does me make money? does he work like mortgage loan officers who make money off the interest rate? or is he pure salary? more

Resolved Question: In need of advice, can someone help me get information about a career as a EMT/Paramedic or Animal Control?

I am just not happy working in retail management. I live in North Texas, north of Dallas in Plano, TX. I want to help people with real life situations, not help them buy a TV or help them with a return of merchandise. I have been a furniture salesman, loan officer during the mortgage boom, and a retail manager at a medium sized retail outlet. I really need help finding out if there is financial assistance in going to school for Paramedic training here in Dallas? I've also been applying for jobs in Animal Control because I like working with animals and dealing with the situations that arise and I think I would love that kind of work. Honestly, I am miserable going from job to job and just not getting anywhere. I really need career advice from a professional. Does anyone have any input on this? Thanks! Yes I grew up in a rural community for the first 18 years of my life in East TX. I've assisted in several emergency situations. As for the working holidays and weekends, I'm used to that. I don't mind as long as I can someday make a decent living doing something that helps others! But yeah, I'm going to start looking into classes and get some volunteer hours in the meantime. Thanks! more

Voting Question: Why doesn't my wife have a credit score?

My wife and I just applied for a new mortgage and the loan officer said my wife doesn't have a credit score. We don't understand this because she has had car loans, credit cards, and a previous mortgage. How can she not have a credit score? more

Resolved Question: Loan Officer question?

In the state of New Jersey do you need to be licensed to solicit loans for a mortgage company and if so how do you. more

Resolved Question: Refinacing a mortgage on secondary home.?

It looks like to refinance a secondary home because of the housing market is so bad turns out to be very popular. However, there are regulations involved on different type of loans. Bottom line is high risk on this kind of loan. A loan officer told me, I can sell the secondary house to my son or relatives and still can get the loan approved. Question I have is 1.) Is it legal? 2.) My son is still in college, does not have income, how can he qualify a mortgage loan? The loan officer told me, they can do it, first to make my son the buyer of the house, then title the house back to my name. In between, I can get some cash out. Is this possible? Would like to get some opinions from those have more experiences in this refinance business. more

Resolved Question: Mortgage experts: Do people who give gifts toward closing costs HAVE to also supply bank statements to lender?

I'm being told by my loan officer that FHA requires bank statements of ANYBODY who gives me money toward closing costs. I have always been advised that a gift letter was required, or even a canceled check. I can live with these things. But bank statements of anybody who gives me money...even for Christmas?? That seems a bit ridiculous and invasive. Please help me out because I am about $1000 short for my closing costs and I REALLY do not want my parents or siblings to have to all provide bank statements to my lender! Is this lender too harsh, or is this the times we live in? My FICO is 701 more

Resolved Question: How can I get a lower interest % on my mortgage, when I've never been late on my pmts., but have a 'low' fico?

This is a second mortgage I took through my Credit Union. I'm working on raising my credit score, but that takes time. In the meantime I've gone without other necessities, so that I wouldn't be late on my payments. If my monthly payments were lowered, then, I could use the extra money to fix the leaky roof, the plumbing system, the guttering system, and the list goes on. My entire monthly paycheck goes to pay my mortgage and car loan. (I don't have a luxury car). I have called my Credit Union and spoken with different officers in the loan dept., but many of them are overbearing, and start giving me a lecture on my credit score. But I've never been late on any of my monthly payments, even on my monthly car loan payments that I have with them. My monthly payments to them (incl. all my other pmts.) have been like 'clock work' each and every month since the very beginning, 6 years ago. Does anyone know if any of those govt. programs that just came out to help distraught homeowners could also help/qualify/benefit me? Could I switch to an FHA loan instead? Would their rates be better? It seems to me, that it would also be in my Credit Union's best interest to lower my interest rate on my mortgage(even on my car loan), so that I could use the money to fix the house to preserve its value, and sell it. If I don't fix it now, it's going to lose its value, and also I'd lose money when/if I sell it. more

Resolved Question: Is there a list of charges that loan officers have to go by or can they charge what ever they want?

When looking for a new mortgage loan is there any department that over looks what is legal or not to charge someone to find them a loan? If so where do you find it and if not how do you protect yourself from being taken advantage of when you are not up to speed-on how the loan industry works? Thanks to anyone that can tell the truth about this because stepping on some ones money is not easy to do for some people. more

Resolved Question: Does the government have Bipolar Bailout disorder? What is the best treatment?

As cornucopian benefits flow from Washington, Uncle Sam turns out to suffer from Bipolar Bailout Disorder. Like a taxpayer-funded Push Me-Pull You, he goes both ways while consuming enormous resources on the road to nowhere. Todayâ€™s gargantuan mess started largely because Washington used Fannie Mae and Freddie Mac to promote affordable housing. â€œThe more pressure there is on these companies, the less we will see in terms of affordable housing,â€ Rep. Barney Frank (D., Mass.) said in 2003. He described Fannie and Freddie as â€œfundamentally soundâ€ and added: â€œI want to roll the dice a little bit more in this situation towards subsidized housing.â€ Well, it worked. America is awash in affordable housing. Home prices in 20 major cities plunged 16.6 percent last quarter. Thatâ€™s bad news if youâ€™re selling, but a bonanza for those seeking affordable housing. So, rather than declare â€œmission accomplished,â€ Uncle Sam has cannon-balled into the mortgage markets to jack up housing prices. Which is it? Last September 24, G.W. Bush claimed the $700 billion bailout would relieve distressed banks of â€œtroubled assets that are clogging the financial system.â€ But just seconds later, Bush continued: â€œ...the value of many of these assets will likely be higher than their current price, because the vast majority of Americans will ultimately pay off their mortgages.â€ In that case, are these assets really troubled, or just hung over? If the latter, why not calm down, let them sleep it off, and then arise after a decent interval? The Troubled Assets Relief Program then endeavored to rescue teetering banks. But to do so, Treasury dragooned prosperous banks into accepting bailout money so their needy competitors would not be stigmatized. This is like a supermarket whose affluent shoppers must accept and spend Food Stamps so low-income customers with Food Stamps donâ€™t appear poor at the checkout stand. â€œI think itâ€™s absurd,â€ says the director of one small mid-Atlantic financial house. â€œWe are a profitable bank. We have zero non-performing loans. We have more capital than we are required to have. We arguably are overcapitalized from an economic and a business point of view. Our only constraint on lending is the demand of credit-worthy borrowers. Our lenders are on the street every day, as they have been throughout this financial crisis, looking to make new loans. Despite that, we are being offered this relatively low-cost capital in the form of this preferred stock to be bought by the federal government.â€ This bank officer estimates that the Fed is ready to hand his hale and hearty institution between $4 million and $5 million. This banker notes â€œthe ironic escalation of the interest rate.â€ The terms of the loan, he marvels, are â€œfive years at 5 percent, then it goes to 9 percent.â€ In other words, Washington is giving banks adjustable-rate loans. This perfectly parallels the adjustable-rate mortgages that steered us into this ravine in the first place. http://article.nationalreview.com/?q=YzBjMmM3MmJlZGUzOWY1YWJiOTc4NGQzNjkzMjY0NjA= The whole article is good. It points out that despite the panic of passing $700 billion in bailouts immediately without review, Bush is leaving $350 to have Obama allocate them. The Federal Reserve is out of reserves, and the article says 'this goes way beyond 'show me the money', now it is 'throw me the money'. Are we ready yet to demand fiscal accountability and transparency, at minimum of our government and the federal reserve? Would you back HR 2755 to abolish the fed that injected two TRILLION in credit recently, per Bloomberg, and refuses to say who got it? TJTB - I hadn't seen that. Makes me mad, but who DIDN'T see this coming at least for the last year, at least on SOME scale? I mean, say only the Austrian School devotees predicted the extent, EVERYONE knew subprime mortgage structures were bad. Where do they get off speculating in markets to begin with? more

Resolved Question: Credit Dinged - Bank Screwed up?

I have several late payment "dings" on my credit as a result of a loan that I co-signed with my former husband. After our divorce, he continued to pay on it for several years and I never thought more of it. Evidently the bank that held the loan was sold to PNC Bank in 2007, and in late 2007 my former husband evidently fell upon hard times and began making his payments over 30 days late, which obviously caused late payment dings to be put on my credit. My issue is that PNC Bank never let me know that they had taken over the loan from our "hometown bank" when they acquired it. Our bank had been good about keeping me in the loop as far as loan correspondence, etc., but something fell between the cracks because when the loan was sold, PNC Bank only notified my former husband and not me (even though our former bank - Annapolis Bank & Trust) had my correct info. I had no idea that the loan had gone into default until about 6 months ago, when my husband and I applied for a mortgage loan and found that there had been 3 recent late payments from PNC Bank. After investigating - I told our loan officer it must be a mistake since I did not have a loan with PNC Bank - we discovered that they had acquired AB &T in 2007, but never told me. I am not having any luck getting PNC to remove the late dings from my credit. I am more than happy and able to pay on this but I had no idea they bought the loan and no idea that the loan was late OR about to be defaulted on. What recourse do I have? I have reported the late payments as disputes to the three major credit agencies but PNC won't expunge the late payments from my record. I am willing to push the envelope all the way up the PNC line but need some suggestions on the best way to go about this. Thanks!!!!! Sorry, I should have clarified this better. I am the "co-borrower", so it's in both of our names - sorry, made it sound like it was his loan that I co-signed. more

Voting Question: What is an FHA home ownership program certification and who does it apply to?

Its been almost 3 months since the first agreement of sale. I finally received a mortgage commitment but it has 18 pre-conditions. I have already completed all of them and the rest of them the mortgage company has to do like check employment verification. However one of them says "borrowers to complete FHA home ownership program and provide certification of completion" then the loan officer said " oh that is something we have to do, not you" it clearly says "borrowers" What is this, How long does it take, and I thought this was just for people who are in the down payment assistance program. I have all the money! Settlement was supposed to be 3 days ago. someone please help me understand this. thank you in advance. more

Resolved Question: How is this recession Dems' fault?

~~If you argue that CRA (Community Reinvestment Act) FACT: 50% of subprime loans were made by mortgage service companies not subject comprehensive federal supervision and another 30% were made by affiliates of banks. http://74.125.45.104/search?q=cache:TcA9Tzx4aqgJ:www.house.gov/apps/list/hearing/financialsvcs_dem/barr021308.pdf+subprime+University+of+Michigan%27s+Michael+Barr&hl=en&ct=clnk&cd=1&gl=us&client=firefox-a @@If you argue that Bush said to protect Fannie and Freddie but Dems didn't listen: FACT: Dems did listen and Republican Richard Baker's 2005 Federal Housing Finance Reform Act which would help regulate Fannie and Freddie: PASSED by House but NOT PASSED by a Republican-controlled senate: http://www.govtrack.us/congress/bill.xpd?bill=h109-1461 ##If you argue that McCain said something in 2006: FACT: two years ago McCain was speaking of the INTERNAL ACCOUNTING scandals in Fannie Mae and Freddie Mac, NOT the loose lending practices. And McCain told a New Hampshire paper in late 2007 "I'd like to tell that I did anticipate it, but I have to give you straight talk, I did not." $$If you argue that Barney Frank didn't do anything: FACT: Barney did as he pushed his 2007 Federal Housing Finance Reform Act which would help regulate Fannie and Freddie: PASSED by House but NOT PASSED by a Republican-controlled senate: http://www.govtrack.us/congress/bill.xpd?bill=h110-1427 If you argue that Dodd/Obama/Hilary took money out of Fannie and Freddie: FACT: McCain's $169,000 from Fannie AND Freddie directors and officers and lobbyist compare to Obama's $16,000 (EVEN you put individuals from Fannie AND Freddie for Obama: $105,849â€¦Obama still has less than McCain): http://graphics8.nytimes.com/images/2008/09/10/us/politics/10fannie.graphic.jpg Aquiles Suarez=, listed as an economic adviser to the McCain campaign in a July 2007 McCain press release, was formerly the director of government and industry relations for Fannie Mae. The Senate Lobbying Database says Suarez oversaw the lending giant's $47,510,000 lobbying campaign from 2003 to 2006 In addition, Politico reports that at least 20 McCain fundraisers have lobbied for Fannie Mae and Freddie Mac, pocketing at least $12.3 million over the last nine years. http://www.motherjones.com/mojoblog/archives/2008/09/9663_mccain_fannie_freddie.html more

Resolved Question: Any suggestions for financing a new house?

My husby and I are thinking of buying a larger, newer home for ourselves, and renting our current home. My husband already has three rental condos; our realtor mentioned that it is difficult to get a 5th mortgage. All properties are in California. We were already planning on possibly selling one of the condos towards a down payment, so that would put us down to three mortgages, and the new one would put us back up to the possible limit. We are meeting with a loan officer this week to discuss our options, but does anyone have any hints or suggestions from thier own experience, other than what we are thinking about? Thank you to all who answer! :) ChesterBunny, you have a good point. I was nervous at the thought of 5 mortgages, so that is part of why we would want to sell a property. I do not want to overextend ourselves. I like my sleep. ;) FastPace: we both have jobs, so the real estate is not our primary income more

Resolved Question: Can an add on to a credit card be responsible for the bill?

I was an add on to my mother's sears mastercard. She passed away a few months ago and all debts were to make a claim to her estate. Yesterday I had a credit report run on me personally. Boy was I surprised. The credit card company has filed a claim against me personally for this debt. I was told by a mortgage loan officer at BB&T this should have never happened. This was not a joint account. I was simply an add on. more

Resolved Question: Need help with a letter to mortgage company??!!?

I am applying for a home loan and my loan officer said to write a letter stating that we know how important it is to keep credit strong and the huge financial responsibility it is to own a home.....how the heck can i start the letter and what else shall i put in it?? thanks more

Resolved Question: Is anyone clear on the new bankruptcy laws?

I was recently married and on our honeymoon we got sucked into listening to a 90 minute (turned out to be 6 hours) presentation for a time share. We stupidly agreed to this and now are stuck with a mortgage payment every month. Here is the thing, I am the primary person on this. The company claims they don't report credit, check credit or anything else. The closing officer explained that if we didn't want the property they just ask for it back. Sounded simple; not exactly. I called the other night and tried to do that and they won't let me. My husband just found out that they are cutting their hours and laying people off frequently. I explained to them that this was not feasable for us and they don't care. My credit can't get any worse than it is. He is also on the contract, however he is not the primary. Can I see a lawyer and try and file bankrupt? The real estate is over 14,000. Does the loan have to be in default before I can file? Please help. more

Resolved Question: Is this a crime or what?

Hi I have a simple but little tricky question. I believe there are three ways to purchase a house. 1.Pay cash - If you are a millionaire.. 2.Hire Mortgage Broker - They will contact with Wholesale Lender 3.Contact with Bank directly - Bank has it's own Loan Officer. *If someone doesn't tell the difference between mortgage broker and loan officer, go to yahoo and search "mortgage broker vs. loan officer" . Here is my story. Year 2004 I met Mr.Kim who was a mortgage broker.He always tell others that if someone wants to buy a house, they have to hire a mortgage broker to process their loan(He was acting that option #3 does not exist. That way he could get more jobs to sell.). *Someone might say "Why did you trust the mortgage broker? You are stupid..." You will be surprised to know how so many people have no knowledge about these whatsoever. Anyway I trusted him and year 2005 I purchased my first house. I filled out loan application and prepared all the documents which was prepared by Mr.Kim. The loan was approved: both first and second lender was major Banks. Exactly 2months later, I received a check book by XX (also major bank) bank. I asked my mortgage broker about this and he said that this was a home equity line of credit by XX bank (3rd mortgage): it was issued based on the current value of my property (there's no loan application and no appraisal report..ect.) and my excellent credit. I had no doubt about this at that time (because it was issued from a major bank) and I used the money for home improvement. My mortgage broker, Kim was sentenced for financial fraud for other cases(currently he is in federal prison) In the mean time, my mortgage payment was increased dramatically because it was a MTA program which I had no idea what that was at that time... My monthly payment doubled after 2 years and I had reached a point where I could not make all three mortgage payment including the 3rd mortgage. As the real estate market crashed, the value of my house dropped greatly and I could no longer able to make payment. I knew something was not right. I heard about Mortgage Audit from internet one day and decided to do that. I requested all the documents (including original loan applications..) from the all three lenders. I was surprised to see that there were loan officer's name which I had no idea because I had never met any loan officers. Not only that but also the information on the loan application had wrong information which was prepared by mortgage broker?? or the loan officer?? Since the lender was not a whole sale lender, I had learned that the loan officer from the lender must meet with the borrower directly(Patriot Act?). What do you think about this whole loan process? I want to know how big crime it is when the loan officer never contacted the borrower and accept all the documents from the mortgage broker and approve the loan despite of all the wrong information on the loan documents?? * Some of you might say, "You signed the documents at the settlement and it is your responsibility" However both the mortgage broker and the title agent are currently imprisoned. During the settlement, it is almost impossible to review every single document and sign them. I had to trust whatever I sign because it was conducted by title lawyer. Who would not trust "LAWYER" ?? DO YOU THINK LENDER GAVE US A MONEY BECAUSE THEY ARE CHARITY WORKERS? more

Resolved Question: 30 Year mortgage application?

hello all - i have put application for loan and appraisal is completed. also, looks like the officer is not giving me good rate...can i switch to another place for loan..is that legal..i know I will be loosing my appraisal fee..but are there any other complications.. I am in new york state more

Resolved Question: What kind of violation is this.?

Resolved Question: SmartFit Loan from Wells Fargo Bad Loans?

The situation We bought a condo in 2005 at the height of the housing boom for $308,000. Our loan was financed by Wells Fargo, and the type of loan that we qualified for consisted of an 80%/20%, hence it was 100% financed. Both loans were called Smartfit Home Equity accounts and were fixed Interest Only for the first 3 yrs . We were ofcourse told by the loan officer that we should be able to refinance by or before the 3 yrs and get into a regular fixed loan. Forward 2 yrs later and with the bust of the economy, deep decline in housing values, and unemployment, we are just one number among the millions of people facing default on their mortgage loan. One of us lost our job last year in 9/2007, and that is when we started contacting Wells Fargo trying to be proactive with our situation because we knew in 2008 the loan accounts were becoming variable, and we wanted to be ahead of the ball. At that time, Wells Fargo said they couldn't help us because we were not in a hardship and we were not past due. All they were offering us was to modify the loans for 1 yr. However, we didnt want a temporaty modification cause we knew 1 yr later we would be in the same situation again, facing variable unpredictable loan payments (needless to say it is 1 yr later and the economy is worse than it was in 9/07). We decided to keep making payments until early 2008 when the payment on the 80% loan converted to variable and we saw that we could not afford it. Again, Wells Fargo could not offer us any assistance because supposedly we could still afford the variable payments. We were told we could not refinance since the value of our property was not there (duh!). That left us with upside loans and variable rates. So here we are in 11/2008 we tried getting assistance from Wells Fargo one year ago and currently STILL trying. It has been several months since we have stopped paying and still no notice of forclosure and currently waiting on a representative from Wells Fargo to call us in regards to HUD's HOPE for homeowners program. To top it all off we were never informed that our 20% loan became due and payable after the 3 years expired. We recently found out both of our loans might not be considered regular mortgage loans. Since we have a Smartfit loans which are Home Equity accounts and possibly recourse loans. Meaning they can come after us after the difference opposed to a regular mortgage loan. We strongly feel we were painted a pretty picture and since we were young and eager into getting our own place we took the Wells Fargo information as face value and belived what they had to say and not knowing we would not be able to afford our monthly house payments if this was a principal/interest and taxes regular 30 year loan. I guess you can called it stupid or naive but this loan was basically a bad loan to start with, not a Smartfit........ more

Resolved Question: Question about legal loan process.?

Resolved Question: Did you know the New York Times warned us about our economic crisis in 1999?

If you think Bush caused our economic crisis then have you read this article put out by the New York Time article? Fannie Mae Eases Credit To Aid Mortgage Lending By STEVEN A. HOLMES Published: September 30, 1999 In a move that could help increase home ownership rates among minorities and low-income consumers, theFannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders. The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring. Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits. In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans. ''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.'' Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market. In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescuesimilar to that of the savings and loan industry in the 1980's. ''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.'' Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped. Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings. Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites. Home ownership has, in fact, exploded among minorities during the economic boom of the 1990's. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University 's Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent. In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent. Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings. In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups. The change in policy also comes at the same time that HUD is investigating allegations of racial disc more

Resolved Question: Do I need my Real Estate license now?

I want to be a mortgage loan officer. Do I need my real estate license right now or can I do loans without it? more

Resolved Question: Where did Bush get us?

I see the argument a lot, especially in places like Yahoo Answers and blogs but I have never really seen it backed up with examples or evidence. I can only assume that people are referring to the wars in Iraq and Afghanistan and our current economic status. I just want to give some perspective that I hope people take into account before bashing me, and Bush, and republicans in general so that I can really get some answers. I am still undecided on who I am voting for and have never chosen who I vote for based on party affiliation. I consider myself level headed and I try to understand situations before reacting. So, here it goes. President Bush took office on January 20, 2001. This was immediately following the dot-com bubble and the fall out created by it. Can't blame that on him. Also, less than 8 months later 9/11 happened as we all know. Aside from the conspiracy theorists, you can't blame that on him either. He immediately took action, as the nation wanted him to and not too long after Congress declared war in Iraq. Now, I THINK one of the things people blame on Bush is the whole thing about not finding WMDs in Iraq. I am fairly certain President Bush should not be held accountable for this. Everyone believed it due to faulty intelligence. I am not sure how that is his fault. In this argument I am also ignoring reports that we did in fact find WMDs in Iraq in the form of chemical weapons. Perhaps you can blame Bush for the fact that we have been in Iraq this long but in my humble opinion, destroying a country's government then packing up and leaving isn't exactly a good plan. We have to finish what we started and I think we will prevail in the end. We have to be patient, this is a new kind of war that has never been fought before. Keep in mind that in some months more people die in Detroit due to gang violence (one city) and die in Iraq due to the war (an entire country that is at war). As for the economy, I think the argument is that Bush somehow got us into this mess because he has been president for the last 8 years. According to one of my economics professors the blame can't be placed with any single person due to the fact that we got to this place by 30 years of deregulation of our financial systems. The guy is an economic historian and I believe him over most people who will respond to this post anyways, so lets assume that that part is not up for debate. Now in doing some reading I came across an article in the NY Times that leads me to believe if people do want to point the finger at one person for causing this Bush should not be that person, but Clinton should. The almost prophetic article starts out with the following. In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders. The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring. Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits. In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans. ''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.'' In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's. ''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the governme I just noticed my post got cut off..... oh well. Looks like people are still choosing ignorance. If you want to read the article go to NYtimes.com and search for "Clinton Fannie Mae" and read the September 30, 1999 article. more

Resolved Question: More Countrywide scams?

I called Countrywide home loans today to see if they would combine my first and second mortgage, second is at 11% interest with a balloon payment due. I bought the home five years ago for 340,000.00. My latest appraisal came in at over 500,000 (renovated). The loan officer at Countrywide tried to convince me the home was only worth 270,000. Of course he has no current data so he could not possible know what my home is worth. What are these people up to now? The last appraisal they did with one of their people was two years ago and 80,000.00 less than what we had the home appraised after their appraiser left. I have a better offer but does anyone know why they are only using their appraisers and giving people false information? more

Resolved Question: I'm buying a duplex and the seller is VERY motivated - thoughts?

Hello, this is my first question and I've been doing tremendous amount of research on my first purchase of a FULL duplex. I've never owned but in my job field, I manage accounts and people with various problems for a corporate IT company for the past 5 years. I've heard the common thread with duplexes which are tenants. I'm aware of the ups and downs but wanted to know the thoughts on this specific offer on the table. Note, this would be my first property investment. Everything is set, it's a question if I want to pull the trigger. At the moment, I see myself staying here for 1 year to live on half and make SMART updates for a rentable unit. No granite, no stainless etc - I will save that for my future home. I don't have any kids not married so I feel I can invest time towards this 1 year project (maybe 1.5 years) The interesting thing is half of the duplex is already rented out to a older lady with her mom. They have been there for the past 5 months paying $900 a month. My mortgage would be approximately $1100. The seller had two duplexes in a DECENT neighborhood. The seller happened to own two duplexes side by side, one has been foreclosed, the other is the one I am considering to purchase and he is motivated. Due to the fact of this specific information, the seller wants to drastically sell the house The house is estimated to be worth 150k and he is dropped it down to 120k. I am only putting 1K down so I can use it to fix the place up. This is my 1 year plan - thoughts? Here are the specs of the duplex - 1. 1500 SF each side 2. 2 Bedrooms 3. 2 bathrooms 4. W/D connections 5. Fireplace 6. 1 car garage 7. each has own backyard (land is big in tx) Essentially I am purchasing 4 bed 4 bath 2 car garage for $120k :-) Maybe lower - I don't want to lowball the seller but I want my moneys worth as a first time home buyer. The seller has been proposed my criteria below - per the loan officer this is probable. 1. Pay all closing costs 2. Pending inspection, fix repairs (such as electirc, plumbing) 3. Provide a 1 year home warranty I am also considering the $7500 first time home buyer tax credit. Which would save me $300 per month but eventually I would have to pay back. Any thoughts on that as well? As you can see I've been thinking hard about this duplex! Thoughts! Thanks in advance Mark more

Resolved Question: What else can we do? My best friend refinanced her house a few months ago...?

After closing, the loan officer told her that her payment for that month wasn't due, and to wait until the next month to set up scheduled payments to come directly out of her checking account. She set it up but the mortgage company failed to take it out saying that she missed the first payment after closing. The loan officer obviously lied about not making that first month's payment. By the time she tried to find out what went wrong, she was already 3 payments behind. She has since contacted her lawyer, and has been putting her mortgage payments into savings. She has the money to pay them, but the lawyer is advising her not to because this has ruined her credit and the company is trying to foreclose. She has had perfect credit for many years, and now her credit card company's are slashing her credit lines. What else can she do to keep her good credit until the lawyer can straighten things out? Is there someone she can contact to report her bad mortgage company? Please help! She has helped so many people in her life.. she would give anyone the shirt off of her back and it is killing me to see her go through this hell! more

Resolved Question: What steps should I take to become a commercial or mortgage loan officer?

I want to become a loan officer ASAP. I have a year of college left, and I'm majoring in Business Management Economics. Basically Economics with some accounting, some computer classes, and some management classes. What steps do I need to take to become a loan officer after I graduate in Miami, NYC, Chicago, or LA? Should I be looking at grad school right now or trying to line up a job? What about grades, how important are they? I'll have a 3.2 GPA when I graduate, is this good enough? more

Resolved Question: What does the Mortgage loan officer do with your bank statements?

What does the mortgage loan officer look for on your bank statements? I am submitting the required paperwork to process my mortgage. They are asking for my last two months bank statements. A few months ago, I made a banking error which resulting in my account to go negative and to be charged several overdraft fees. I am worried because this is showing up on the bank statement that I have to give them. Is this going to make my loan not go through? Could I just print off the last 60 days of transactions because it doesn't show up on that? I am putting 20% down and my credit score is 750. I am stressing out about this. Am I screwed? more

Resolved Question: As a mortgage loan officer, can I repair client's credit for them if I don't charge a fee?

When I close the loan, will that count as compensation? Is there a license I would need or do I need a Power of Attorney? Will a Borrower Authorization Form suffice? Why is it that only lawyers do this? I just want to save them some time by sending the letters for them and create some loans for myself at the same time. If there are no licensing requirements, can I charge for this service to make a small profit and make sure I'm working with serious home buyers? more

Resolved Question: Question on mortgage 5 yr arm please (help)?

When we bought our first home 3.5 yrs ago, We had wantd to live for 3yrs then move for personal needs...Our Mortgage officer insisted this was the best bet for a 5yr arm. It sounded good, and we could afford the payments. Insurance (health), gas, and HOA went way up and put us over the edge. The medical payment went up but the service degraded, so we are now contending with huge bills and basically we live pay check to paycheck and can barely afford food, (actually cant go shopping) But we dont qualify for assistance....Any savings has been depleted. It seems like a downward spiral, and it is just gettnig worse. So were juggling bills and doing the best we can, working overtime as much as we can however thats mostly on a freeze as well... Now we have zero in our account and cannot pay our mortgageyet this month.... I called my bank to inquire with any options, but they refuse to talk with me till im 30-60 days in default. (how the heck does that make sense?) Can any one tell me what options there are? Iv e heard about a new legislation where a home-owner can (refinance) for lack of better word, to the actual value of the home. Ours is valued at more than half of what we paid, or are trying to pay. There is something else I heard of where the bank lets you skip a few payments and puts them at the tail end of our loan. I dont want to walk away, just frustrated that I need help and bank wont talk to me??? any options and advice would really be appreciated. thanks more

Resolved Question: When trying to get a mortgage loan, is there a way for the loan officer to find out if my client?

has been late paying his rent within a 12 month period if my client gave him a different address other than where he was actually living? I'm a real estate agent by the way. more

Resolved Question: Financial Consequences of Foreclosure - 21 yr/old Graduate Student HELP!?

Good morning all, I need some major advice. I am a 21y/o MBA student, still searching for a more-tha-customer service job: and 2 yrs ago I purchased a 4br/2bath home in Cenrtal Florida for 175,000. The mortgage is about 1600 per/mo and I have tenants there who are paying 1100 per month. With assoc fee and all, I have to pay out of pocket (about $700) to make up for what the tenants dont pay. I was originally hoping to have that as a long term asset, retirement home, blah. After all expenses, what I save at the end of the month is only 150-200 per month. I still live at home with my mom (widow) and I help her out. I am in the middle of my Master's program and have to date, about 60,000 in student loans which i will not have to pay until after graduation (i also want to get my PhD, so that ill be done with school either december 09, or 2015 if I go for the Dr). I do not save at the end of the month for a rainy day, a saving, to pay for school, or for a future...here are my questions: 1) since foreclosure records lasts 7 years, would it be reasonable for me to give up my home, and when im 28 look into buying a home again? 2) is it worth it to just continue with this sacrifice? my mother, lil bro and sis all live in a 2br condo, i wanna give my room up to one of the kids and move into a room or sublet elsewhere.. 3) the mortgage is joint-tenancy with right of survivorship, so my mom and I are joint owners..would they come after our condo if I foreclose on the house? The condo we llive in is under countrywide, the house is with Chase. 4) I am planning on joining the coast guard to be an ensign officer, liutenant b/c of my education..would a foreclosure affect my ability to enlist? any other suggestions or feedback would be most appreciated. I can't offer anyone anything but a thank you, but again, any ideas or suggestions will be highly thanked. Regards, cmletamendi@yahoo.com more

Resolved Question: Are the democrats to blame for the sub-prime failure?

Amazing foresight!! Take a gander at this while they try to lay blame for the whole meltdownâ€¦9 years agoâ€”this one is priceless and worth the read- right out of New York Times -------------------------------------------------------------------------------- September 30, 1999 Fannie Mae Eases Credit To Aid Mortgage Lending By STEVEN A. HOLMES In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders. The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring. Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits. In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans. ''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.'' Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market. In moving , even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's. ''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.'' Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the bor rower makes his or her monthly payments on time for two years, the one percentage point premium is dropped. Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings. more

Resolved Question: Does this sound right?

I currently have a fixed rate mortgage and am about to refinance. My loan officer tells me that he is giving me a fixed rate. However, he is showing me that my payments will go down every year for the first 5 years and then will be the same for the last 25 years. Does this sound like a fixed rate mortgage? more

Resolved Question: Am I committed or can still go with another Mortgage Lender?

I was pre-approved with both Guaranty Bank mortgage and Capital One Home Loan. Guaranty Bank issued me a Good Faith Estimate Settlement Charges and Capital One didn't. At the bottom of this GFE I saw my full legal name printed and the loan officer's printed as well. But no actual signatures! I included the pre-approval letter from Guaranty Bank with the offer I wrote to the seller. I first decided to go with Guaranty Bank so, I provided the Guaranty Bank mortgage officer my paytubs, bank statements etc. Due to unclearly charges explained and I don't feel comfortable with this loan officer. I now want to go with Capital One since this Capital 1 officer is more sincerely helping. Have I committed to Guaranty Bank since I provided my bank statement and paytubs? Can I go with Capital One now? or I'm either stuck with Guaranty Bank or paying $500 commitment fee to get out? How does it work if I showed pre-approval letter from Guaranty Bank to the seller, and the mortgage loan will be from Capital One? Thanks! This is FHA loan more

Resolved Question: What does a loan officer look for when looking at your credit?

My hubby and I are going to apply for a home mortgage at a few places next week. This is going to be our first house. We dont have the best credit (stupid mistakes as teenagers). We only have about $4000 of debt. We are worried this is going to affect our ability to get a mortgage. Both our cars are payed off and this is the only real debt we have. We do have a few things going for us. Over $20000 in 401k (which we wont touch for anything!). We have $20000 for a down payment and my hubby has been with his job now for 8 years. Is this going to effect our interest rates greatly? I dont want to pay off my credit bills with my down payment because I want to make sure I have enough for the down payment. Is there any way to combine the two so we can use part of the down payment to pay off our existing bills? Just curious what this guy is going to be looking for. Thanks. more

Resolved Question: I received an email clearly intended for fraudulent purposes. Who should I alert?

Judge for yourselves, is this creepy or what?: Flag this messageUrgent (Please Respond Swiftly)Wednesday, October 8, 2008 9:22 PM From: "James Gordon" <jamesgordon5550@gmail.com>Add sender to Contacts To: undisclosed-recipientsHello, Are you a property owner in the United States? Do you have an existing home equity line of credit or personal/business with any US/CANADIAN Bank? I am Mr. James Gordon from James Gordon Designs London, UK. I write to solicit your assistance in working with me as my Payment Officer who can help me establish a medium of getting across to my customers in USA and CANADA as well as making wire transfers to you on my behalf. I made and Export furniture into Canada, America/Europe and have Clients who make bulk transfer of funds and due to large sum of money involved, they prefer making the transfers into an Equity Line of Credit account. If interested do get back to us with your details below and we will do furnish you with more details. You will be allotted 5-7% of total amount wired into your account. PERSONAL INVESTMENT FUNDING APPLICATION FORM First Name: Last Name: Address: City: State: Zip Code: ***Mark "x" in the bracket below** Own a House ( ) Rent ( ) Home Tel: Mobile: Email. Social Security #. Occupation: Date of Birth: Investment Amount: Duration: 30 days ( ) 60days ( ) 90 days ( ) Above 90 days { } **Mark "x" in the bracket below** 1. Are you a property owner in the United States Yes ( ) No ( ) 2. Do you have an existing home equity line of credit or personal/business with any tire One US Bank? Note: Credit cards, mortgage loans, checking accounts are not accepted. Yes ( ) No ( ) 3. Provide line of Credit / home equity account number: 4. What is the credit limit on your line of Credit / home equity account USD$ 5. What is balance presently owed on your line of Credit/ home equity USD$. 6. What financial institution is your line of Credit / home equity with? 7. What are the address and 1800 number of your financial institution? I hereby authorize the investor to verify the above information for investment decision. I certify that the information is true and to the best of my knowledge. Applicantâ€™s Signature Date ************************IMPORTANT NOTICE*********************** This form must be returned with the following: * A copy of beneficiary's identification (Drivers License or International Passport) will be required. This is an investment program that offers 100% funding upon approval. This program is not a loan program and has no direct liabilities to the beneficiary. James Gordon 29 Niton Street, London, SW6 6NH. http://www.timwood.com more

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