Any homeowners here?

[bonesninja 5,000+ posts]

illiterate are we?
read the **** thread stupid.

or even better so i don't have to explain it AGAIN. look up a short refi...or loan modification.

http://www.shortrefinow.com there you illiterate fvck...made it easier for you to find out the info

show me on that website where there is "real" information

its a marketing scheme....for a fee we will "help" you

 

[WhoSayWho? 5,000+ posts]

that would be a cash out refi stupid idiot.

Unbelieveable, you are still just as clueless as you were when you started this shit even though the fallacy of your thinking has been pointed out to you several times.

 

[mannyb18b]

LOL. I am saying that you are a moron for not realizing that if you take the proceeds from your refinance and payoff your car what you are essentially doing is increasing the length of your auto loan to 30 years.

but ya that is true. So you are saying if you are paying $300 on your car a month, and $1000 a month on your mortgage, and you make $1500.mo in income. You wouldn't want to pay off the car, erase the $300/mo payment, and now make a mortgage payment of $1020?

 

[mannyb18b]

show me on that website where there is "real" information

its a marketing scheme....for a fee we will "help" you

tell that to the people who have completed a loan mod

 

[mannyb18b]

Unbelieveable, you are still just as clueless as you were when you started this shit even though the fallacy of your thinking has been pointed out to you several times.

Just so you know, a refi doesnt mean you HAVE to pull money out of your equity.

There is rate/term refi, and there is cash out refi. kthxbye

 

[WhoSayWho? 5,000+ posts]

but ya that is true. So you are saying if you are paying $300 on your car a month, and $1000 a month on your mortgage, and you make $1500.mo in income. You wouldn't want to pay off the car, erase the $300/mo payment, and now make a mortgage payment of $1020?

I am saying that if you walk away from a closing refinancing your house with cash and buy a pack of gum with the proceeds you have basically just financed that gum for 30 years.

 

[bonesninja 5,000+ posts]

if its so good....why is it unregulated, does not fall under RESPA,(yeah run and google it, because i KNOW that you don't know what RESPA is, and why does it not fall under any state or federal banking laws?

and the average upfront cost for a short refi is around $3500....if they had that cash, chances are they would make the mortgage payment

 

[chunky cumz 10+ year member]

lol i am in the industry and i i laugh at people like him. They are the con-artist of the industry.

 

[WhoSayWho? 5,000+ posts]

Just so you know, a refi doesnt mean you HAVE to pull money out of your equity.
There is rate/term refi, and there is cash out refi. kthxbye

The fact that you don't have to cash out doesn't change the fact that you don't understand what the effect of cashing out is for those who do:

You pull out equity...you have cash...you pay the loan off in cash...no tie's to your mortgage....

 

[mannyb18b]

lol i am in the industry and i i laugh at people like him. They are the con-artist of the industry.

very intelligent statement right there....

 

[WhoSayWho? 5,000+ posts]

if its so good....why is it unregulated, does not fall under RESPA,(yeah run and google it, because i KNOW that you don't know what RESPA is, and why does it not fall under any state or federal banking laws?

and the average upfront cost for a short refi is around $3500....if they had that cash, chances are they would make the mortgage payment

Oh no, that doesn't actually cost them anything, it's just rolled into the loan. //content.invisioncic.com/y282845/emoticons/rolleyes.gif.c1fef805e9d1464d377451cd5bc18bfb.gif

 

[mannyb18b]

if its so good....why is it unregulated, does not fall under RESPA,(yeah run and google it, because i KNOW that you don't know what RESPA is, and why does it not fall under any state or federal banking laws?

and the average upfront cost for a short refi is around $3500....if they had that cash, chances are they would make the mortgage payment

more like 3600-4 grand. And yes, many people have that much available to get this done...like I said, I've DONE THEM!

for example, one guy was unemployed at the moment, and making his mortgage payments off 15,000 in cash reserves. He used 3600 of that reserve to complete the program. and guess what...now he is good.

 

[mannyb18b]

Oh no, that doesn't actually cost them anything, it's just rolled into the loan. //content.invisioncic.com/y282845/emoticons/rolleyes.gif.c1fef805e9d1464d377451cd5bc18bfb.gif

actually it's an upfront cost to get the process started

 

[mannyb18b]

if its so good....why is it unregulated, does not fall under RESPA,(yeah run and google it, because i KNOW that you don't know what RESPA is, and why does it not fall under any state or federal banking laws?
and the average upfront cost for a short refi is around $3500....if they had that cash, chances are they would make the mortgage payment

honestly, the borrower themselves could walk into the bank, and apply for a loan mod. but most people don't know the wiser.

and honestly, loan mods are going to get shut down probably by HUD. Because it's companies charging upfront fee's to get a process done that the borrower could do themselves if they knew the wiser, or had the connections or know hows to do so.

 

[mannyb18b]

nevertheless it's being done and people are in better situations and able to keep their homes because of it.