Georgia foreclosures jump 99%; rate is nation's 3rd highest

[NC Hunter]

Back some 35 years, I was working at a savings and loan checking the mortgage loans. One borrower had one of the best rates, a fixed rate of -10%. High rates tend to suppress increases in value.

Am I seeing this right? You had a borrower that had a negative interest rate?

How would I go about converting my loan to one that had a negative rate?

 

[westcobbdog]

as an agent I always cringe when a buyer is getting a 100% loan with no $$ of their own to put down--many of these people are not ready to own

 

[Throwback]

as an agent I always cringe when a buyer is getting a 100% loan with no $$ of their own to put down--many of these people are not ready to own

For real.

When I sold our first house, the people that bought it borrowed 100% and the closing costs. It was really weird to look at the paperwork and it was HIGHER than what we agreed on selling it for. Of course, they "lived" there less than a year.

Then when I bought my next house, we put a small chunk down. The realtor saw what we put down and said "Throwback, if I had known you had that much to put down, we could have gotten you a lot bigger/nicer house".

I told him I wanted a house I could afford, not a house I could buy.

T

 

[Lostoutlaw]

For real.

When I sold our first house, the people that bought it borrowed 100% and the closing costs. It was really weird to look at the paperwork and it was HIGHER than what we agreed on selling it for. Of course, they "lived" there less than a year.

Then when I bought my next house, we put a small chunk down. The realtor saw what we put down and said "Throwback, if I had known you had that much to put down, we could have gotten you a lot bigger/nicer house".

I told him I wanted a house I could afford, not a house I could buy.

T

Now that right there makes a lot of sence Good Job Throwback

 

[Back2class]

This has been good for me. I specialize in selling reo's (real estate owned by banks)and my business has been booming. I keep hiring real estate agents and staff and still can't keep up.

Shoot me an e-mail when you got somthin decent near me. Im always happy to profit from others bad choices!
Thanks

 

[jason4445]

A friend of mine son, just out of college, got a job with Delta in the financial department at $65,000 a year and a $20,000 hiring bonus in cash.

 

[blindhog]

Going DOWN...anyone?