Comments on: Mortgage Broker Stabbed in Home Invasion by a Disgruntled Client

By: Darren

Darren — Sat, 31 May 2008 20:52:07 +0000

I sit here and read all the bullshit everyone is ranting. 1st of all, if anyone hear knows anything about banking, all these sub-prime mortgages where pressed to be offered to the poor and needy to give them a chance at home ownership. Ask yourself this, how many 100% ltv mortgages did you do on a 2/28 and 30/15 2nd, and refinance the borrower to a 30 year fixed. A smart loan officer or mortgage broker did exaclty that. But you should be asking this. FHA has been around forever, but the only problem for mortgage brokers was,they did not have the 60,000 in cash to secure FHA, had the FHA removed this rule, maybe sub-prime would have been a thing of the past, and everybody would have been in a 30 year fixed with MI. In short, yes there are asshole broker and loan officers out there, and times will get better. The goverment knows exactly what is going on. Or maybe ask yourself this. If 66% of the american people own a home and get direct tax deductions, how is the IRS making money, when they are giving back credits. Now if there are a stable 30% home owners, the IRS and goverment works very very well. Just a thought.

By: ALBERTA

ALBERTA — Mon, 19 May 2008 16:54:28 +0000

Lenders aren’t really working to help the borrowers

By: gatorbait

gatorbait — Sat, 08 Mar 2008 03:24:12 +0000

the problem is that the servicers have no incentive as of yet to help you…it is a sad fact but unless there is a benefit to the investor then no much will happen.

When and if the government finally steps in and offers to pay some stipend to help homeowners then we will see some positive outcomes for the homeowner. Keep trying and be persistent because you will eventually get the ear of a person who will help you. good luck

By: barbara faulkner

barbara faulkner — Sat, 08 Mar 2008 02:28:58 +0000

I AM A VICTIM OF PREDATORY LENDING. I CONTACTED THE HOPE LINE TO FIND OUT I COULD NOT BE HELPED. ALL I WAS TOLD WAS TO TRY TO CONTACT MY MORTGAGE COMPANY AND WORKOUT SOMETHING. I HOPE NOONE GETTING PAID TO SAY THIS TO CALLERS BECAUSE THIS IS NOT HELPING PEOPLE. I BELIEVE THIS IS ANOTHER COVER UP. HPE COULD NOT TELL ME ANYTHING I DID NOT ALL READY KNOW.EVEN WHEN TOLD TO THEM MY MORTGAGE COMPANY WILL NOT RESPOND NOR RETURN CALLS BACK TO ME .I WAS TOLD WELL JUST KEEP CALLING THEM. THIS HOPE CAMPAIGN IS A BIG FAT JOKE. WHEN WILL OUR GOVERNMENT STOP PULLING THE AMERICAN PEOPLE LEGS. THE MORTGAGE COMPANIES AND THEIR LEADERS MADE A LOT OF MONEY ON PEOPLE LIKE ME .WHY DON’T THE GOVERNMENT DO SOMETHING ABOUT RATHER THAN ALL THIS SMOKE LIKE THEY ARE GOING TO FIX IT. SO BODY GOT RICHER ,AND RICHER MEANWHILE PEOPLE WAS LOSING THEIR HOMES BECAUSE OF THIS DECEPTION LIKE THE SITUATION I AM IN .WHY DON’T REAL HELP TAKE PLACE .THANK GOD HE SEE IT ALL!!HOW DO YOU PEOPLE SLEEP AT NIGHT WITH ALL THE LIES AND DECEPTION THAT YOU ALL CREATE FOR THE AMERICAN PEOPLE.

By: ShedSomeLight

ShedSomeLight — Tue, 22 Jan 2008 04:13:48 +0000

First off, I can say that I know some things related to the story that began this whole discussion, like for instance the people involved. The staber, the stabee, the Title Company(s), the appraiser, and many others in this circle of greed. The article mentions (a bank) 5/3 going after 17 million in fraud. The other banks haven’t come out of the woods yet, but I’m sure soon will to add another 8-10 million on to this soon to be great story of Greed. All though I can’t say much (for now), I think it’s safe to say that these people would screw over their closest to get what they wanted (trust me). Some of the others involved appear to have now re-joined to work within work within the Commercial sector vs. the Million dollar home and empty estate lot sector. It’s funny how someone (in their mid 30′s) can build a (very nice I might add) 11,000 sq.ft. home and then their business suddenly changes names then completely goes under. Now they are moving into the market to sell you a cup of coffee! One buys the building and the other opens a business and becomes the tenant. Wonder how much money will be embezzeld out of this deal. In the mean time the originators of this circle (or should I say stabee) have packed up and move to FLA to enjoy some sunshine under someone else’s name I’m sure since the bank above has placed personal leins on both of them for 20.47 million. The clouds may move in however in March when the first of many jury trials begin…

By: JacMac

JacMac — Wed, 09 Jan 2008 12:08:15 +0000

Surreaallllll, we agree again Chris!!!! (By the way, that’s my son’s name, so you can’t be half bad).

By: Chris

Chris — Wed, 09 Jan 2008 05:44:33 +0000

Yeah, and you saw how that turned out for the people of New Orleans and Biloxi. They are probably operating from the coat room with the light off. Don’t get me started on FEMA. I could create my own blog on that BS

By: JacMac

JacMac — Wed, 09 Jan 2008 05:14:08 +0000

Oh, QC, they must be on the same floor as FEMA!

By: Chris

Chris — Wed, 09 Jan 2008 04:59:13 +0000

I listen to you lady. QC Quality Control. There,………well, there is suppose to be a dept. of sorts that reviews the loan from beginning to end. They look for integrity loan issues, performance issue etc. on the lender side as well as the borrower’s side. In theory, it’s supposed to eliminate unscrupulous acts as we are seeing now. It works sometimes. Sometimes

By: JacMac

JacMac — Wed, 09 Jan 2008 04:24:26 +0000

Chris, gosh darnnit! You HAVE been listening to me — well, at least a little .

Yes, if the loan was explained to me not correctly but TRUTHFULLY I would have walked away, as a matter of fact, when I tried to walk away and actually rescinded the first loan, the MBs spent a lot of time convincing me that I was wrong, and that I was mistaken.

They brought me back three days later and signed new doc, with a lower margin and index (because they decreased their YSP unbeknownst to me) but the same Loan # and because I had actually tried to rescinded based on pure gut instinct and not any facts I made the HUGE mistake of second guessing myself and suspending my judgment for that of what I thought was a professional acting with integrity and in my best interest.

NOT TRUE!

The thing that eats me up is I told the MB specifically that I DID NOT WANT an ARM loan, as I had one of those. But I got the common speech, Let me tell you why this is the best loan for you — the only loan for you out there right now. Let me tell you how you can work it so it will work for you. Let me tell you how you can refi in two years, no problemo. Let me NOT tell you about the prepay penalty; let me not tell you about my YSP. Let me not explain to you that the loan will actually neg. amor. at an incredible rate and pace if you pay the way you are, the way I ADVISED you to pay, and let me tell you how you will not be able to contain that at all.

Hindsight is 20/20, but the truth is I suspended with my judgment and trusted in a MB whom I thought foolishly was working on my behalf. I was ignorant and for that I am now and have been paying big time.

Joe, I agree 100%

MLmortgageguy, the truth is I’ve learned more “bantering” back and forth hear, than I ever could about the industry, so this whole experience has been highly educational. And you know what experience is, don’t ya?

It’s what you get when you don’t get what you wanted.

Chris, what’s “QC”?