Comments on: Barney Frank – you not only don’t know your borrower, you have no idea who your borrower’s borrowers’ were or are http://loanworkout.org/2007/12/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/ Loan Modification & Home Loan News Fri, 20 Nov 2009 12:55:43 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: Stephen http://loanworkout.org/2007/12/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-2604 Stephen Sat, 15 Dec 2007 19:12:36 +0000 http://loanworkout.org/2007/12/10/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-2604 That's great. But be on alert! The 7-year mark is the point at which they fabricate a foreclosure so they can turn over the property for a profit. They refinanced you because they can't sell the property for a profit at this time. Some income is better than none, so for the time being you're alright, but refi. away from them to a small local bank as soon as possible. See MSFraud.org for more information. That’s great. But be on alert! The 7-year mark is the point at which they fabricate a foreclosure so they can turn over the property for a profit. They refinanced you because they can’t sell the property for a profit at this time. Some income is better than none, so for the time being you’re alright, but refi. away from them to a small local bank as soon as possible. See MSFraud.org for more information.

]]> By: Moe http://loanworkout.org/2007/12/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-2603 Moe Fri, 14 Dec 2007 20:14:25 +0000 http://loanworkout.org/2007/12/10/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-2603 You can find TxAngel in our forum where you can ask her questions. http://www.loansafe.org/forum/showthread.php?t=327 You can find TxAngel in our forum where you can ask her questions.

http://www.loansafe.org/forum/showthread.php?t=327

]]> By: Jon http://loanworkout.org/2007/12/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-2602 Jon Fri, 14 Dec 2007 19:17:55 +0000 http://loanworkout.org/2007/12/10/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-2602 Tx, can you give the lender that is working out the Mod, a mention ? Tx, can you give the lender that is working out the Mod, a mention ?

]]> By: doner http://loanworkout.org/2007/12/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-2601 doner Fri, 14 Dec 2007 04:20:30 +0000 http://loanworkout.org/2007/12/10/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-2601 Al, excellent question. I hope TxAngel can fill us in. Wiil this go back to an ARM in 7? Will you be amortizing your principal over 23 years, instead of 30? Did the mortgage company analyze that you can afford this bump in payments? Do you know what your new payment can be, worst case? Or, is it the same story, different day? Al, excellent question. I hope TxAngel can fill us in. Wiil this go back to an ARM in 7? Will you be amortizing your principal over 23 years, instead of 30? Did the mortgage company analyze that you can afford this bump in payments? Do you know what your new payment can be, worst case? Or, is it the same story, different day?

]]> By: Al http://loanworkout.org/2007/12/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-2600 Al Fri, 14 Dec 2007 03:17:41 +0000 http://loanworkout.org/2007/12/10/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-2600 Being new to this process, what then happens after the 7 year fixed? Being new to this process, what then happens after the 7 year fixed?

]]> By: edgar http://loanworkout.org/2007/12/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-8427 edgar Mon, 10 Dec 2007 21:57:40 +0000 http://loanworkout.org/2007/12/10/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-8427 Frank is scum, why are you even talking to or about him? Frank is scum, why are you even talking to or about him?

]]> By: alan http://loanworkout.org/2007/12/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-8426 alan Mon, 10 Dec 2007 21:21:09 +0000 http://loanworkout.org/2007/12/10/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-8426 I'm not sure what do you mean by real fix. But more than third of homeowners owns homes outright and about third of total households do not own, meaning 55% of total households do not have a mortgage. Among those homeowners that do have mortgage only about 30% at most at the danger of negative equity if prices drop 20% nationally. If you think that 15% of voters are going to get bailout financed by the 85% I'm certainly interested to see how this is going to shape up. You already know which side I am on. I'm fine with stricter regulation and other things but there is snow ball chance in hell I'm going to support any representative that wants to modify existing contracts. I’m not sure what do you mean by real fix. But more than third of homeowners owns homes outright and about third of total households do not own, meaning 55% of total households do not have a mortgage. Among those homeowners that do have mortgage only about 30% at most at the danger of negative equity if prices drop 20% nationally. If you think that 15% of voters are going to get bailout financed by the 85% I’m certainly interested to see how this is going to shape up. You already know which side I am on. I’m fine with stricter regulation and other things but there is snow ball chance in hell I’m going to support any representative that wants to modify existing contracts.

]]> By: JacMac http://loanworkout.org/2007/12/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-8425 JacMac Mon, 10 Dec 2007 21:17:36 +0000 http://loanworkout.org/2007/12/10/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-8425 "These were defective credit intruments and should have NEVER been offered to borrowers and should in theory be recalled due to their predatory nature." ~ Moe From Moe's mouth to God's ears. Hey Moe, when are you going to write that book? “These were defective credit intruments and should have NEVER been offered to borrowers and should in theory be recalled due to their predatory nature.” ~ Moe

From Moe’s mouth to God’s ears.

Hey Moe, when are you going to write that book?

]]> By: Moe http://loanworkout.org/2007/12/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-8424 Moe Mon, 10 Dec 2007 18:12:57 +0000 http://loanworkout.org/2007/12/10/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-8424 They have to get involved. It is their civic duty. They know that much of the market was driven by fraud and steering of our market. A "real" fix will be placed on this sooner rather than later and after that, heads will roll. The END. They have to get involved. It is their civic duty. They know that much of the market was driven by fraud and steering of our market.

A “real” fix will be placed on this sooner rather than later and after that, heads will roll.

The END.

]]> By: Tom http://loanworkout.org/2007/12/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-8423 Tom Mon, 10 Dec 2007 17:06:53 +0000 http://loanworkout.org/2007/12/10/barney-frank-you-not-only-don%e2%80%99t-know-your-borrower-you-have-no-idea-who-your-borrower%e2%80%99s-borrowers%e2%80%99-were-or-are/#comment-8423 The main problem is that politicians are getting invloved. Maybe Barney Frank would be willing to change the tax laws so people can take that money and send it to the lender THEY signed up with. These sale people did not sign up for the tax levels they now pay. The main problem is that politicians are getting invloved. Maybe Barney Frank would be willing to change the tax laws so people can take that money and send it to the lender THEY signed up with. These sale people did not sign up for the tax levels they now pay.

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