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lonestar2000.
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December 2, 2007 at 5:01 PM #107677December 2, 2007 at 9:38 PM #107655
ucodegen
ParticipantLA_R – I don’t think that freezing the interest rate or in some other way modifying an existing purchase money loan would automatically change the characterization of the loan from non-recourse to recourse.
The ones I have seen are really a no-cost refi, not a change in loan terms. It is put forth (advertised) as a loan modification, but paperwork looks like a no-cost refi… some even advise that you take a little money out (cash out) for emergency cushion. This cash out also allows them to charge an extra 0.25% to 0.5% on the rate. Admittedly, I have not seen all the ‘mods’ being done..Certainly anyone who agrees to a modification would want to pay close attention to any mod agreement they may be required to sign to determine if there is any language regarding recourse.
As always Caveat Emptor..December 2, 2007 at 9:38 PM #107753ParticipantLA_R – I don’t think that freezing the interest rate or in some other way modifying an existing purchase money loan would automatically change the characterization of the loan from non-recourse to recourse.
The ones I have seen are really a no-cost refi, not a change in loan terms. It is put forth (advertised) as a loan modification, but paperwork looks like a no-cost refi… some even advise that you take a little money out (cash out) for emergency cushion. This cash out also allows them to charge an extra 0.25% to 0.5% on the rate. Admittedly, I have not seen all the ‘mods’ being done..Certainly anyone who agrees to a modification would want to pay close attention to any mod agreement they may be required to sign to determine if there is any language regarding recourse.
As always Caveat Emptor..December 2, 2007 at 9:38 PM #107787ParticipantLA_R – I don’t think that freezing the interest rate or in some other way modifying an existing purchase money loan would automatically change the characterization of the loan from non-recourse to recourse.
The ones I have seen are really a no-cost refi, not a change in loan terms. It is put forth (advertised) as a loan modification, but paperwork looks like a no-cost refi… some even advise that you take a little money out (cash out) for emergency cushion. This cash out also allows them to charge an extra 0.25% to 0.5% on the rate. Admittedly, I have not seen all the ‘mods’ being done..Certainly anyone who agrees to a modification would want to pay close attention to any mod agreement they may be required to sign to determine if there is any language regarding recourse.
As always Caveat Emptor..December 2, 2007 at 9:38 PM #107798ParticipantLA_R – I don’t think that freezing the interest rate or in some other way modifying an existing purchase money loan would automatically change the characterization of the loan from non-recourse to recourse.
The ones I have seen are really a no-cost refi, not a change in loan terms. It is put forth (advertised) as a loan modification, but paperwork looks like a no-cost refi… some even advise that you take a little money out (cash out) for emergency cushion. This cash out also allows them to charge an extra 0.25% to 0.5% on the rate. Admittedly, I have not seen all the ‘mods’ being done..Certainly anyone who agrees to a modification would want to pay close attention to any mod agreement they may be required to sign to determine if there is any language regarding recourse.
As always Caveat Emptor..December 2, 2007 at 9:38 PM #107811ParticipantLA_R – I don’t think that freezing the interest rate or in some other way modifying an existing purchase money loan would automatically change the characterization of the loan from non-recourse to recourse.
The ones I have seen are really a no-cost refi, not a change in loan terms. It is put forth (advertised) as a loan modification, but paperwork looks like a no-cost refi… some even advise that you take a little money out (cash out) for emergency cushion. This cash out also allows them to charge an extra 0.25% to 0.5% on the rate. Admittedly, I have not seen all the ‘mods’ being done..Certainly anyone who agrees to a modification would want to pay close attention to any mod agreement they may be required to sign to determine if there is any language regarding recourse.
As always Caveat Emptor..December 2, 2007 at 10:08 PM #107695GoUSC
ParticipantEballing is when a poster has no valid point to make to the OP so instead he will choose to show he has “claimed” financial superiority and therefore doesn’t care about what the OP is saying. And no Rustico, it was not directed at you. I think it’s pretty apparent who it was.
December 2, 2007 at 10:08 PM #107796ParticipantEballing is when a poster has no valid point to make to the OP so instead he will choose to show he has “claimed” financial superiority and therefore doesn’t care about what the OP is saying. And no Rustico, it was not directed at you. I think it’s pretty apparent who it was.
December 2, 2007 at 10:08 PM #107827ParticipantEballing is when a poster has no valid point to make to the OP so instead he will choose to show he has “claimed” financial superiority and therefore doesn’t care about what the OP is saying. And no Rustico, it was not directed at you. I think it’s pretty apparent who it was.
December 2, 2007 at 10:08 PM #107838ParticipantEballing is when a poster has no valid point to make to the OP so instead he will choose to show he has “claimed” financial superiority and therefore doesn’t care about what the OP is saying. And no Rustico, it was not directed at you. I think it’s pretty apparent who it was.
December 2, 2007 at 10:08 PM #107850ParticipantEballing is when a poster has no valid point to make to the OP so instead he will choose to show he has “claimed” financial superiority and therefore doesn’t care about what the OP is saying. And no Rustico, it was not directed at you. I think it’s pretty apparent who it was.
December 2, 2007 at 10:36 PM #107720Multiplepropertyowner
ParticipantI thought I would send you all a picture of me
December 2, 2007 at 10:36 PM #107821ParticipantI thought I would send you all a picture of me
December 2, 2007 at 10:36 PM #107853ParticipantI thought I would send you all a picture of me
December 2, 2007 at 10:36 PM #107863ParticipantI thought I would send you all a picture of me
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