Home › Forums › Housing › Wells Fargo has reduced mortgage balances on 43,500 option ARM’s and counting
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jameswenn.
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November 5, 2009 at 7:36 PM #479042November 5, 2009 at 7:45 PM #478211
GH
ParticipantThis sounds like a great deal for the (renter / owner) who will get affordable payments for 5 years at the end of which they will either be back or give up and be back in the same position again.
The big question – will they even be able to afford this once the current administration is done finishing up the work of the last?
November 5, 2009 at 7:45 PM #478380ParticipantThis sounds like a great deal for the (renter / owner) who will get affordable payments for 5 years at the end of which they will either be back or give up and be back in the same position again.
The big question – will they even be able to afford this once the current administration is done finishing up the work of the last?
November 5, 2009 at 7:45 PM #478746ParticipantThis sounds like a great deal for the (renter / owner) who will get affordable payments for 5 years at the end of which they will either be back or give up and be back in the same position again.
The big question – will they even be able to afford this once the current administration is done finishing up the work of the last?
November 5, 2009 at 7:45 PM #478829ParticipantThis sounds like a great deal for the (renter / owner) who will get affordable payments for 5 years at the end of which they will either be back or give up and be back in the same position again.
The big question – will they even be able to afford this once the current administration is done finishing up the work of the last?
November 5, 2009 at 7:45 PM #479047ParticipantThis sounds like a great deal for the (renter / owner) who will get affordable payments for 5 years at the end of which they will either be back or give up and be back in the same position again.
The big question – will they even be able to afford this once the current administration is done finishing up the work of the last?
November 5, 2009 at 7:56 PM #478221sdrealtor
ParticipantThis isnt happening its realtor propaganda. Just ask Rt 66.
November 5, 2009 at 7:56 PM #478390ParticipantThis isnt happening its realtor propaganda. Just ask Rt 66.
November 5, 2009 at 7:56 PM #478756ParticipantThis isnt happening its realtor propaganda. Just ask Rt 66.
November 5, 2009 at 7:56 PM #478839ParticipantThis isnt happening its realtor propaganda. Just ask Rt 66.
November 5, 2009 at 7:56 PM #479057ParticipantThis isnt happening its realtor propaganda. Just ask Rt 66.
November 5, 2009 at 8:06 PM #478225analyst
Participant[quote=bayparkgal]Why would anyone want a 40-year interest only loan? What exactly do you own? I believe that is called renting. That has got to be the dumbest plan ever![/quote]
You would own the right to collect the amount of future price increases.
You would want a fixed-rate interest-only loan (of any number of years) if the loan amount/payment was tolerable, and you were confident that the property value would increase to your liking within that number of years. You get a place to live, and you get the profit with the lowest carrying cost.
The evidence is as yet incomplete. I don’t think Wells Fargo is offering a 40-year fixed-rate interest-only loan at 4.5%. If they are, there would be many takers, including me.
November 5, 2009 at 8:06 PM #478394Participant[quote=bayparkgal]Why would anyone want a 40-year interest only loan? What exactly do you own? I believe that is called renting. That has got to be the dumbest plan ever![/quote]
You would own the right to collect the amount of future price increases.
You would want a fixed-rate interest-only loan (of any number of years) if the loan amount/payment was tolerable, and you were confident that the property value would increase to your liking within that number of years. You get a place to live, and you get the profit with the lowest carrying cost.
The evidence is as yet incomplete. I don’t think Wells Fargo is offering a 40-year fixed-rate interest-only loan at 4.5%. If they are, there would be many takers, including me.
November 5, 2009 at 8:06 PM #478761Participant[quote=bayparkgal]Why would anyone want a 40-year interest only loan? What exactly do you own? I believe that is called renting. That has got to be the dumbest plan ever![/quote]
You would own the right to collect the amount of future price increases.
You would want a fixed-rate interest-only loan (of any number of years) if the loan amount/payment was tolerable, and you were confident that the property value would increase to your liking within that number of years. You get a place to live, and you get the profit with the lowest carrying cost.
The evidence is as yet incomplete. I don’t think Wells Fargo is offering a 40-year fixed-rate interest-only loan at 4.5%. If they are, there would be many takers, including me.
November 5, 2009 at 8:06 PM #478844Participant[quote=bayparkgal]Why would anyone want a 40-year interest only loan? What exactly do you own? I believe that is called renting. That has got to be the dumbest plan ever![/quote]
You would own the right to collect the amount of future price increases.
You would want a fixed-rate interest-only loan (of any number of years) if the loan amount/payment was tolerable, and you were confident that the property value would increase to your liking within that number of years. You get a place to live, and you get the profit with the lowest carrying cost.
The evidence is as yet incomplete. I don’t think Wells Fargo is offering a 40-year fixed-rate interest-only loan at 4.5%. If they are, there would be many takers, including me.
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