MR MORTGAGE - BIG BANKS HOME EQUITY EXPOSURE REVEALED 4/4/8
Visit my new blog… http://mrmortgage.ml-implode.com Mr Mortgage talks about Home Equity Lines of Credit and the big banks exposure. These loans are toxic…almost a total write down. Can lenders foreclosure if you do not pay? Will they offer you a great deal on a loan buyout? Are you in jeapordy of losing your access to the credit on the line? Banks may try to freeze it! This is a must-watch.
Duration : 0:8:1
25 Responses to “MR MORTGAGE - BIG BANKS HOME EQUITY EXPOSURE REVEALED 4/4/8”
Very helpful. I …
Comment made on March 8th, 2009 at 6:16 amVery helpful. I have a friend who is looking into HELOC right now and I helped my parents do one just a few years ago. Not with this bank though.
We Can Help You …
Comment made on March 8th, 2009 at 6:16 amWe Can Help You Save Your Home From Foreclosure Go To homesaver(DOT)tk
thehelpfund.blogspot
Comment made on March 8th, 2009 at 6:16 amthehelpfund.blogspot
excellent video
Comment made on March 8th, 2009 at 6:16 amexcellent video
Currently in the US …
Currently in the US forecloses are at a high.
So much the Banks are overwhelmed and they are now bowing willing to renegotiate loans to curb foreclosure.
They are not even considering your FICO because they already know the financial issues most Americans are experiencing.
Keep your home get the facts act before your insolvent.
Comment made on March 8th, 2009 at 6:16 amIt’s all tied in …
Comment made on March 8th, 2009 at 6:16 amIt’s all tied in with the credit cards, and what I predicted years ago. As an owner of a small business, when they revved up the Air Miles (the bribe) and began stealing (extorting) my profits, it was pre-ordained that this would come about. Like the junk bonds before them, there comes a day of reckoning. Judgment Day. You’re brighter than me, more succinct in stating it.
Big Banks are ruthless, Mafia families, and both borrowers and others who do business with them get shafted.
Thanks.
Oh I forgot to ask, …
Oh I forgot to ask, if I’m paying 5.25% on my original mortgage of $150,000 and now my balance is $122,000 when my VA adjustable loan goes up, whats it go up to? I was under the impression it might go up 1% point a year and so (in my thinking) I thought I might need to pay 6% on my current balance of $122,000 which is doable for me, am I wrong? Is there something I dont understand about these loans? Whats my worst case here?
Scared, can you help?
Comment made on March 8th, 2009 at 6:16 amAm I screwed? I’m a …
Comment made on March 8th, 2009 at 6:16 amAm I screwed? I’m a Veteran and was given a 5.25% VA loan and I’m at the 5 year period where it can adjust. The house we bought was $155,000 our balance is $122,000 and it was appraised at $204,000 we have excellent credit (never paid nothing late, no debt etc) but got turned down only because my house was not “comparable” to houses in my neighborhood… whats that about? I got turned down from my own mortgage company who is financing me already. Is there another reason?
I don’t necessarily …
Comment made on March 8th, 2009 at 6:16 amI don’t necessarily advocate drawing down one’s HELOC like you state. However you do make some excellent points in this video and others you’ve posted. God Bless.
I own my home for …
Comment made on March 8th, 2009 at 6:16 amI own my home for retirement, and if you do not do equity then the banks bleed you through property taxes. Your community is borrowing from the banks - and the banks are involved with the insurance industry and making policies that are not affordable and do not cover minimal. If you want coverage then they try to sell you an umbrella. WHERE IS CONGRESS - SHUT THESE BLOOD SUCKUNG THIEVES DOWN!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Thank you.
Comment made on March 8th, 2009 at 6:16 amThank you.
The banks don’t …
Comment made on March 8th, 2009 at 6:16 amThe banks don’t need to sell or write down HELOCS they just wait for you to pay them at full value. If you don’t you get to declare bankruptcy, you don’t get to buy it back for “$.30″ on the dollar.
My favorite …
Comment made on March 8th, 2009 at 6:16 amMy favorite mortgage guy 100%.
Mark.. Oh how we …
Comment made on March 8th, 2009 at 6:16 amMark.. Oh how we missed ya!
*** Mr. Mortgages …
Comment made on March 8th, 2009 at 6:16 am*** Mr. Mortgages for President ***
Great stuff.
…
Great stuff.
Please do a video on short sells. Thank you!
Comment made on March 8th, 2009 at 6:16 amProperty will “hit …
Comment made on March 8th, 2009 at 6:16 amProperty will “hit bottom in 3 years” in America? Look at prices to stabilize by 2009, certain parts of the country are NOT seeing “a bubble bursting”. California, Florida have been hit, etc., but a lot of flyover states have seen less than 10% drops.
And Greenspan. We …
Comment made on March 8th, 2009 at 6:16 amAnd Greenspan. We can debate whether holding rates that low that long contributed X or Y, but Greenspan’s advice to consumers to take ARMs was nothing more than a risk transfer away from his banker buddies to the homeowner.
Hey Markmti. …
Comment made on March 8th, 2009 at 6:16 amHey Markmti. Instead of showing us the link in your video, or telling us the address, just put it in your video description over there ——————–>>
back when I yanked …
Comment made on March 8th, 2009 at 6:16 amback when I yanked my heloc Wachovia was paying 5.5 for one year. Now, it is more difficult but the negative maybe worth negative every month to keep that money in your pocket if you really need it.
Just out of …
Comment made on March 8th, 2009 at 6:16 amJust out of curiosity… where in the world did you find that higher yielding account? (Your financial maneuvering is crazy without it.)
telling you your a …
Comment made on March 8th, 2009 at 6:16 amtelling you your a boss. im sure your short LEH with me (also short MER) and i should most likely be short every financial i can find but im not. keep these vids coming, gave you a 5 like you asked for (and deserved for that matter). rock on with your bad self
Obviously, given …
Comment made on March 8th, 2009 at 6:16 amObviously, given the amount of outstanding HELOCs there must be quite a few “retards” out there. I wouldn’t blame Mr. Mortgage as the messenger here, although I agree it is foolish to use these as an ATM. But it is what it is.
“In California, …
“In California, these HELOCs are recourse loans.”
Yep! No walking away from it. For some weird reason people don’t consider this little sticking point.
Comment made on March 8th, 2009 at 6:16 amIn California, …
In California, these HELOCs are recourse loans. It’s an albatross even if you “walk away.”
Good luck paying off your HELOC with no home equity growth and a job that leaves you broke just before payday.
BTW…Fitch blows. They’re just trying to cover their es so people will forget their role in this build up. Nice job with the ratings, dudes. You figured out MBIA in early April. Nobody saw THAT coming.
Comment made on March 8th, 2009 at 6:16 amLeave a Comment