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

NC Hunter

Senior Member
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? :yeah:
 
Thread starter #23

Throwback

Senior Member
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. :hair: Of course, they "lived" there less than a year. :rolleyes:

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

Senior Member
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. :hair: Of course, they "lived" there less than a year. :rolleyes:

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
 
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
 
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.
 
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