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  #13 (permalink)  
Old 09-06-2007, 11:04 AM
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Join Date: Sep 2002
Location: Chicago, Oscar winner, my kind of town,
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Aren't some of those low introductory rates based on the developer buying down the rate? So is it the mortgage companies and/or the developers fault?

What does that federally-mandated lending statement look like for one of these .5% interest for 30 days loans look like?

If it's fixed for 30 days only and then rises every 30 days afterwards, that's just like a credit card...how can that be called "fixed"? False advertising?

What EXACTLY are the terms of these loans? Most bumps in interest rates are capped at a certain percentage per period over last period's rates and as they relate to the Prime rate.

I've seen a lot of instances where people were buying 2nd, 3rd and xxth homes and claiming they were principle residences on their loan apps. Should flippers who got caught with a mess of dough on their faces be bailed out?

The only reason the stock market has been marching upward is that all the money that was being bet on housing has returned to stocks.

Bail out housing, why not bail out everyone who lost money on stocks during the last turndown?

On a side note: Which Corner Bank do I need to visit to make my deposit?
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