- This topic has 60 replies, 8 voices, and was last updated 13 years, 10 months ago by
Djshakes.
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January 26, 2011 at 5:30 PM #658418January 26, 2011 at 5:33 PM #658423
bearishgurl
ParticipantYes, jp, not sure if it was an OPTION ARM, but probably. If so, this dumb couple just “elected” to pay Opt 1 or 2 instead of Option 3 (the fully amortized rate). That’s probably how their “payment shock” happened (neg am), lol. Of course, it was probably preventable.
Also, I stated the buyers had purchased in 2007. 2007 was the year Ali got his bar license. The article doesn’t actually specify, but from the timeline, it now appears to me that they bought sometime in late 2005.
Who the h@ll would pay that much for a tract house in Sacramento??
January 26, 2011 at 5:33 PM #659088ParticipantYes, jp, not sure if it was an OPTION ARM, but probably. If so, this dumb couple just “elected” to pay Opt 1 or 2 instead of Option 3 (the fully amortized rate). That’s probably how their “payment shock” happened (neg am), lol. Of course, it was probably preventable.
Also, I stated the buyers had purchased in 2007. 2007 was the year Ali got his bar license. The article doesn’t actually specify, but from the timeline, it now appears to me that they bought sometime in late 2005.
Who the h@ll would pay that much for a tract house in Sacramento??
January 26, 2011 at 5:33 PM #659554ParticipantYes, jp, not sure if it was an OPTION ARM, but probably. If so, this dumb couple just “elected” to pay Opt 1 or 2 instead of Option 3 (the fully amortized rate). That’s probably how their “payment shock” happened (neg am), lol. Of course, it was probably preventable.
Also, I stated the buyers had purchased in 2007. 2007 was the year Ali got his bar license. The article doesn’t actually specify, but from the timeline, it now appears to me that they bought sometime in late 2005.
Who the h@ll would pay that much for a tract house in Sacramento??
January 26, 2011 at 5:33 PM #658485ParticipantYes, jp, not sure if it was an OPTION ARM, but probably. If so, this dumb couple just “elected” to pay Opt 1 or 2 instead of Option 3 (the fully amortized rate). That’s probably how their “payment shock” happened (neg am), lol. Of course, it was probably preventable.
Also, I stated the buyers had purchased in 2007. 2007 was the year Ali got his bar license. The article doesn’t actually specify, but from the timeline, it now appears to me that they bought sometime in late 2005.
Who the h@ll would pay that much for a tract house in Sacramento??
January 26, 2011 at 5:33 PM #659226ParticipantYes, jp, not sure if it was an OPTION ARM, but probably. If so, this dumb couple just “elected” to pay Opt 1 or 2 instead of Option 3 (the fully amortized rate). That’s probably how their “payment shock” happened (neg am), lol. Of course, it was probably preventable.
Also, I stated the buyers had purchased in 2007. 2007 was the year Ali got his bar license. The article doesn’t actually specify, but from the timeline, it now appears to me that they bought sometime in late 2005.
Who the h@ll would pay that much for a tract house in Sacramento??
January 26, 2011 at 5:36 PM #658428Participant[quote=jpinpb]Before coming to me
in utter desperation, the Lipkins, like so
many Americans, tried in vain to negotiate
with their bank directly. They were told that
a “negotiator” had been assigned to their file
and was “reviewing it.” Trying to reach this
mythical negotiator by phone proved more
difficult than finding BigfootLOL.[/quote]
You actually have to try this yourself to believe it, jp. The depth and breadth of utter incompetency displayed by the “big bank” personnel dealing with these loans would knock your socks off!!
January 26, 2011 at 5:36 PM #659093Participant[quote=jpinpb]Before coming to me
in utter desperation, the Lipkins, like so
many Americans, tried in vain to negotiate
with their bank directly. They were told that
a “negotiator” had been assigned to their file
and was “reviewing it.” Trying to reach this
mythical negotiator by phone proved more
difficult than finding BigfootLOL.[/quote]
You actually have to try this yourself to believe it, jp. The depth and breadth of utter incompetency displayed by the “big bank” personnel dealing with these loans would knock your socks off!!
January 26, 2011 at 5:36 PM #659559Participant[quote=jpinpb]Before coming to me
in utter desperation, the Lipkins, like so
many Americans, tried in vain to negotiate
with their bank directly. They were told that
a “negotiator” had been assigned to their file
and was “reviewing it.” Trying to reach this
mythical negotiator by phone proved more
difficult than finding BigfootLOL.[/quote]
You actually have to try this yourself to believe it, jp. The depth and breadth of utter incompetency displayed by the “big bank” personnel dealing with these loans would knock your socks off!!
January 26, 2011 at 5:36 PM #658490Participant[quote=jpinpb]Before coming to me
in utter desperation, the Lipkins, like so
many Americans, tried in vain to negotiate
with their bank directly. They were told that
a “negotiator” had been assigned to their file
and was “reviewing it.” Trying to reach this
mythical negotiator by phone proved more
difficult than finding BigfootLOL.[/quote]
You actually have to try this yourself to believe it, jp. The depth and breadth of utter incompetency displayed by the “big bank” personnel dealing with these loans would knock your socks off!!
January 26, 2011 at 5:36 PM #659231Participant[quote=jpinpb]Before coming to me
in utter desperation, the Lipkins, like so
many Americans, tried in vain to negotiate
with their bank directly. They were told that
a “negotiator” had been assigned to their file
and was “reviewing it.” Trying to reach this
mythical negotiator by phone proved more
difficult than finding BigfootLOL.[/quote]
You actually have to try this yourself to believe it, jp. The depth and breadth of utter incompetency displayed by the “big bank” personnel dealing with these loans would knock your socks off!!
January 26, 2011 at 5:50 PM #659236jpinpb
ParticipantI just got to the part where he indicated he made 26k a month when in reality it was his yearly salary. HELLOOO!! And they arrogantly demand the bank act appropriately and quickly help them do a mod. {shaking my head and sighing}
January 26, 2011 at 5:50 PM #659564ParticipantI just got to the part where he indicated he made 26k a month when in reality it was his yearly salary. HELLOOO!! And they arrogantly demand the bank act appropriately and quickly help them do a mod. {shaking my head and sighing}
January 26, 2011 at 5:50 PM #658495ParticipantI just got to the part where he indicated he made 26k a month when in reality it was his yearly salary. HELLOOO!! And they arrogantly demand the bank act appropriately and quickly help them do a mod. {shaking my head and sighing}
January 26, 2011 at 5:50 PM #658433ParticipantI just got to the part where he indicated he made 26k a month when in reality it was his yearly salary. HELLOOO!! And they arrogantly demand the bank act appropriately and quickly help them do a mod. {shaking my head and sighing}
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