Comments on: Mortgage Security not That Costly http://urbantoolamerica.com/mortgage-security-not-that-costly/ Successful Modern e-Life Style Thu, 02 Feb 2012 02:50:25 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: PrimeConcern http://urbantoolamerica.com/mortgage-security-not-that-costly/comment-page-1/#comment-1156 PrimeConcern Wed, 16 Dec 2009 14:13:20 +0000 http://urbantoolamerica.com/mortgage-security-not-that-costly/#comment-1156 I don't know the numbers, but it is an astronomical amount. I don't know the numbers, but it is an astronomical amount.

]]> By: Anonymous http://urbantoolamerica.com/mortgage-security-not-that-costly/comment-page-1/#comment-1148 Anonymous Wed, 16 Dec 2009 05:17:07 +0000 http://urbantoolamerica.com/mortgage-security-not-that-costly/#comment-1148 wowzaaaa reallly really good! wowzaaaa reallly really good!

]]> By: buad0118 http://urbantoolamerica.com/mortgage-security-not-that-costly/comment-page-1/#comment-1151 buad0118 Wed, 16 Dec 2009 02:32:20 +0000 http://urbantoolamerica.com/mortgage-security-not-that-costly/#comment-1151 When a senior lien forecloses, a junior lien is wiped out. So if the first mortgage holder forecloses, the second trust deed goes away. If the second forecloses, you'll still owe the first. Oftentimes, if a senior lien forecloses, the junior lien holder will send a representative to the auction to defend its interests by making sure the property goes for enough to pay the junior lien as well. Or they buy it themselves with the idea of reselling. Costs money, yes. But better than losing their whole investment. When a senior lien forecloses, a junior lien is wiped out.

So if the first mortgage holder forecloses, the second trust deed goes away. If the second forecloses, you'll still owe the first.

Oftentimes, if a senior lien forecloses, the junior lien holder will send a representative to the auction to defend its interests by making sure the property goes for enough to pay the junior lien as well. Or they buy it themselves with the idea of reselling. Costs money, yes. But better than losing their whole investment.

]]> By: Anonymous http://urbantoolamerica.com/mortgage-security-not-that-costly/comment-page-1/#comment-1154 Anonymous Tue, 15 Dec 2009 18:33:15 +0000 http://urbantoolamerica.com/mortgage-security-not-that-costly/#comment-1154 PMI protects the lender in case your loan goes into default. The only way to have it removed is when you owe less than 80% of your home's value. PMI protects the lender in case your loan goes into default. The only way to have it removed is when you owe less than 80% of your home's value.

]]> By: Blogger http://urbantoolamerica.com/mortgage-security-not-that-costly/comment-page-1/#comment-1142 Blogger Tue, 15 Dec 2009 12:02:50 +0000 http://urbantoolamerica.com/mortgage-security-not-that-costly/#comment-1142 Omfg, it just looks like a picture :o Omfg, it just looks like a picture :o

]]> By: Die Bart Die http://urbantoolamerica.com/mortgage-security-not-that-costly/comment-page-1/#comment-1157 Die Bart Die Mon, 14 Dec 2009 15:30:16 +0000 http://urbantoolamerica.com/mortgage-security-not-that-costly/#comment-1157 You need to establish a banking relationship in the commercial loan department. Stay away from residential lenders as they are not involved in investment deals. Explain what your plan is (to buy foreclosures) and arrange a line of credit subject to your winning bid that converts to a first lien mortgage. Most foreclosures require 10-15% at sale and closing in 30 days. You will need collateral and good credit. Start small and prove yourself to the lender even if it is only really small cheap houses. Make the lender your best friend regardless of his decision as you can always go back. You need to establish a banking relationship in the commercial loan department. Stay away from residential lenders as they are not involved in investment deals. Explain what your plan is (to buy foreclosures) and arrange a line of credit subject to your winning bid that converts to a first lien mortgage. Most foreclosures require 10-15% at sale and closing in 30 days. You will need collateral and good credit. Start small and prove yourself to the lender even if it is only really small cheap houses. Make the lender your best friend regardless of his decision as you can always go back.

]]> By: Christopher http://urbantoolamerica.com/mortgage-security-not-that-costly/comment-page-1/#comment-1152 Christopher Mon, 14 Dec 2009 14:58:56 +0000 http://urbantoolamerica.com/mortgage-security-not-that-costly/#comment-1152 barney frank,chris dodd,ACORN,and all other democrats forcing banks to give loans to PEOPLE WHO COULD NEVER PAY THEM BACK.. barney frank,chris dodd,ACORN,and all other democrats forcing banks to give loans to PEOPLE WHO COULD NEVER PAY THEM BACK..

]]> By: Free Blog http://urbantoolamerica.com/mortgage-security-not-that-costly/comment-page-1/#comment-1143 Free Blog Mon, 14 Dec 2009 13:24:12 +0000 http://urbantoolamerica.com/mortgage-security-not-that-costly/#comment-1143 Beautiful video! Beautiful video!

]]> By: Anonymous http://urbantoolamerica.com/mortgage-security-not-that-costly/comment-page-1/#comment-1147 Anonymous Mon, 14 Dec 2009 09:14:42 +0000 http://urbantoolamerica.com/mortgage-security-not-that-costly/#comment-1147 that is unreal... looks like a photograph... crazy good that is unreal… looks like a photograph… crazy good

]]> By: Anonymous http://urbantoolamerica.com/mortgage-security-not-that-costly/comment-page-1/#comment-1146 Anonymous Mon, 14 Dec 2009 08:19:16 +0000 http://urbantoolamerica.com/mortgage-security-not-that-costly/#comment-1146 that was beautiful. i loved the music especially. it fit the whole painting wonderfully. they both complemented and sympathized each other in perfetct harmony. one of my favorites. :D that was beautiful. i loved the music especially. it fit the whole painting wonderfully. they both complemented and sympathized each other in perfetct harmony. one of my favorites. :D

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