This is how people afford those 800k houses

[PerryChase]

With the Secure Advantage Loan, or course.

Someone e-mailed me this funny ad from Quicken Loans. This how people are misled into thinking that can really afford that 800k house.

Notice that the ad is from a “reputable” brand name company. Think about what the boiler-room brokers are selling to their clients.

150k loan for $450/month so 800k loan is $2400/month. What a deal. Like the ad says, you’re “saving” money.

Too funny!

http://www.youtube.com/watch?v=uDpsYM1y8nc&eurl=

[CardiffBaseball]

The Quicken Loans guy Dan Gilbert, purchased my Cleveland Cavaliers around 2 years ago and the basketball arena is now known as “Quicken Loans Arena” or often just “The Q”.

He promised to bring a bunch of jobs to Cleveland at one point but I have no idea how that worked out.

[kev374]

The sad thing is that there are some naive people who actually think that is a legit home loan like they are building equity and paying off the home in the normal way.

[PerryChase]

That’s also how homebuilders are able to advertize that buying their houses “cost” less than rent.

I heard that Realtors use this line of selling to close deals all the time.

[Author]

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