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Science Forum Index » Medicine - Transcription Forum » OT - Subprime mortgage lenders
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| Author |
Message |
| Judity |
 Posted: Thu Mar 22, 2007 7:23 pm |
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Guest
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Have any of you been watching the news regarding this? One of the
firms mentioned has been Countrywide Home Loans.
Well, today in the mail I got a form letter from them stating they
wanted to give me a 40-year home loan even if I have less than perfect
credit. They state they have approved 4 out of 5 applicants.
I am currently watching CNN on just this topic where I learned I fall
into two of the four categories subprime lenders target. I'm elderly
and a woman. However, one thing I'm NOT is financially stupid.
Because I paid off my mortgage back in 1995 and have excellent credit,
this offer didn't even tempt me. What's sad, though, is how many
people have done this and are now in danger of losing their homes
because of the jump in their mortgage rates. It seems the companies
give low rate at the beginning, but it may double or even triple after
two years.
CNN is saying to refinance if you think you have one of these loans
before it's too late.
Judity
Home of the Gray Dog - working on chapter 45
http://www.writing.com/main/view_item/item_id/1131316
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get a free Writing.com account at the link below.
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