Aaron Opfell's Discussions

When I misplaced my calculator one day, one of the loan officers showed me this website: http://www.dinkytown.com/mortgage.htmlI have never used it since.

Your rate is adjusting, and you owe 200K more than your home is worth. What does this mean?

Last I checked it took the cooperation of a few more people than a loan officer to put someone into a house (hint hint)Just as an FYI, puns are the lowest form of humour ;)

Only the forclosure rate !!!!Oh, I kill myself.In all seriousness what you wrote was good. You should blog or something.Sorry, my humour is a little dark today. ;)

I tried a bunch of indie shops, and got burnt. I hear that countrywide will do it and also wells but not sure which side (retail or wholesale) you could go look on the mortgage grapevine too. But, honestly find a specialist, originate the file and just take your fee from that. IMO not worth the involvment unless you plan to specialize in this loan.

Oh

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Sorry, browser issues.What i was saying is I can tell you who to avoid:Broker's Capital (They claim to be a direct lender but simply co-broker to a retail Mason Mcduffie shop)Sierra Pacific Home Loans (they are a passthrough lender and a bad one at that. I cant overestimate how badly they messed up my loan)

Interestingly enough, there was a loan I used to sell for CMG mortgage back in the day, called the "home ownership accelerator". The idea was, to turn the mortgage into a revolving loc based on the libor. Each month, the borrowers paycheck would be directly deposited into the acount, temporarily decreasing the mortgage balance. Since interest is computed daily, and the best you could do in a checking account is 0%(lol), this on paper actually saved money.  For a well disciplined indivual, this was beneficial.  The main problem was that nobody understood the damn thing, it was so complicated.  And anyone that did, was not cool with mixing their bank account and their mortgage. Anything else besides biweekly payments, or extra payments in some fashion paid to principal is a scam. There is no two ways about it. But, why would you want to pay down a tax write off fixed rate loan in today's inflationary inviroment? Every time inflation grows, the weaker the mortgage gets.

azrob, you completely stole my idea. now i must warn you, if you take it to market, i will be forced to sue you for copywrite infringement. thus, I demand you make me 50% partner. We'll make millions.