Comments for Land and Title Blog http://landtitle.wordpress.com Just another WordPress.com weblog Fri, 20 Jun 2008 17:56:16 +0000 http://wordpress.com/ hourly 1 Comment on Who’s Misleading Who? by Adam http://landtitle.wordpress.com/2008/06/19/whos-misleading-who/#comment-7 Adam Fri, 20 Jun 2008 17:56:16 +0000 http://landtitle.wordpress.com/?p=6#comment-7 Interesting read. What ticks me off to no end is a lot of the bankers, credit folks, are saying, "we didn't force anyone to sign". That's true. No one was forced. I have an adjustable rate morgage on a house I own but don't live in. I'm at a point that I can't get enough in rent to cover the monthly payments so I lose money every month. I've owned the home for 12 years and it and I don't want to lose my good credit rating but can't find a buyer either. I was not forced to sign anything. But I did trust my banker and I shouldn't have trusted him. The bad thing is I will know have a hard time trusting anyone in the banking business when I buy my next house or apply for a loan of any sort. People were greedy. People that others trusted. The system failed. Put these guys in jail. But also fix the problem before it ets much worse. Interesting read.

What ticks me off to no end is a lot of the bankers, credit folks, are saying, “we didn’t force anyone to sign”. That’s true. No one was forced.

I have an adjustable rate morgage on a house I own but don’t live in. I’m at a point that I can’t get enough in rent to cover the monthly payments so I lose money every month.

I’ve owned the home for 12 years and it and I don’t want to lose my good credit rating but can’t find a buyer either.

I was not forced to sign anything. But I did trust my banker and I shouldn’t have trusted him.

The bad thing is I will know have a hard time trusting anyone in the banking business when I buy my next house or apply for a loan of any sort.

People were greedy. People that others trusted. The system failed.

Put these guys in jail. But also fix the problem before it ets much worse.

]]> Comment on Who’s Misleading Who? by Ben http://landtitle.wordpress.com/2008/06/19/whos-misleading-who/#comment-6 Ben Fri, 20 Jun 2008 17:35:41 +0000 http://landtitle.wordpress.com/?p=6#comment-6 Truly insightful Lynn and a must read for borrower (who should now appreciate the possible value of literacy and common sense in put to good use), real estate professional (who may now appreciate the wisdom of a long-term win-win approach to business by serving the best interest of the client instead of short-term payoffs) , mortgage banker (see real estate professional), teacher (who might leverage this experience into a powerful learning opportunity), student (see teacher), dog (who should follow the sage advice of parents of yesteryear and wait at least 30 minutes after your meal before swimming- you know that dog had to jump in and pursue that piece of meat), and tax payer (who may well end up subsiding the former and latter when all is said and done). Keep up the good work...Ben Truly insightful Lynn and a must read for borrower (who should now appreciate the possible value of literacy and common sense in put to good use), real estate professional (who may now appreciate the wisdom of a long-term win-win approach to business by serving the best interest of the client instead of short-term payoffs) , mortgage banker (see real estate professional), teacher (who might leverage this experience into a powerful learning opportunity), student (see teacher), dog (who should follow the sage advice of parents of yesteryear and wait at least 30 minutes after your meal before swimming- you know that dog had to jump in and pursue that piece of meat), and tax payer (who may well end up subsiding the former and latter when all is said and done). Keep up the good work…Ben

]]> Comment on Who’s Misleading Who? by Jeanne Johnson http://landtitle.wordpress.com/2008/06/19/whos-misleading-who/#comment-5 Jeanne Johnson Fri, 20 Jun 2008 15:49:40 +0000 http://landtitle.wordpress.com/?p=6#comment-5 Good posts Lynn, I agree with your comments. And we must be thinking alike, as my recent posts fall right in line with yours - See HUD Miranda Script and Americans Fail the Grade at www.LandRecs.com As they say, Great Minds... Good posts Lynn,

I agree with your comments. And we must be thinking alike, as my recent posts fall right in line with yours – See HUD Miranda Script and Americans Fail the Grade at http://www.LandRecs.com

As they say, Great Minds…

]]> Comment on Who’s Misleading Who? by Delane http://landtitle.wordpress.com/2008/06/19/whos-misleading-who/#comment-4 Delane Fri, 20 Jun 2008 09:23:04 +0000 http://landtitle.wordpress.com/?p=6#comment-4 Very good Lynn. I was not even aware that so many people were indited for fraud. I would like to know more about that. It breaks my heart that so many people have been mislead by mortgage and real estate fraud. The uneducated don't know how to ask the right questions. They just want to know how much their payment is. These are the same people who borrow from high interest finance companies. Shame on the banks for not explaining and shame on the realtors for not explaining it to them. The easy money is long gone. Realtor Very good Lynn. I was not even aware that so many people were indited for fraud. I would like to know more about that.

It breaks my heart that so many people have been mislead by mortgage and real estate fraud. The uneducated don’t know how to ask the right questions. They just want to know how much their payment is. These are the same people who borrow from high interest finance companies. Shame on the banks for not explaining and shame on the realtors for not explaining it to them.

The easy money is long gone.

Realtor

]]> Comment on Who’s Misleading Who? by Janis Talbot http://landtitle.wordpress.com/2008/06/19/whos-misleading-who/#comment-3 Janis Talbot Fri, 20 Jun 2008 00:12:14 +0000 http://landtitle.wordpress.com/?p=6#comment-3 Great, Lynn. But I was taught in school that your house payment should not be more than 25% of your take home pay, not gross pay. Banks today qualify buyers on 33% of their gross pay, which is basically 50% of your take home pay. Unless you are going to eat pork and beans, and pray that the kids don't get sick, or you nee a new car, or new tires, or whatever else crops up, no one can make a house payment equal to 1/2 of their take home. Look forward to seeing more of your posts. Hope you are feeling better!!!! Great, Lynn. But I was taught in school that your house payment should not be more than 25% of your take home pay, not gross pay. Banks today qualify buyers on 33% of their gross pay, which is basically 50% of your take home pay. Unless you are going to eat pork and beans, and pray that the kids don’t get sick, or you nee a new car, or new tires, or whatever else crops up, no one can make a house payment equal to 1/2 of their take home. Look forward to seeing more of your posts.

Hope you are feeling better!!!!

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