about mortages..

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jack-rice
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about mortages..

Post by jack-rice » Sat May 20, 2006 6:26 pm

A mortgage is basically a loan specific to the real estate market. Typically, it covers 70-90% of the purchase price of a house or other property, with the penalty for non-payment being foreclosure, or reversion of the property to the lender. They are available from most banks, credit unions, portfolio lenders and some government agencies.

Mortgage loans usually employ a 30-year repayment (or amortization) schedule. Payments are a changing combination of interest and principal, so that in the early years a payment mostly consists of interest on the outstanding principal balance, but in later years the mix becomes much more heavily weighted toward paying the principal itself. There also is private mortgage insurance to consider, which is required if less than 20% is put down on the house. It has gotten easier to actually get rid of this extra payment as soon as possible.

Learning the administrative and legal aspects of the loan process is essential for anyone considering a loan. A borrower should know what contracts and documents he or she will encounter, and how to negotiate through the paperwork. Also, it is important to be aware of what fees may be assessed and how to minimize or eliminate them wherever possible.

more about loans

Ball of Fluff
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Post by Ball of Fluff » Sun May 21, 2006 5:21 pm

Not always. There are many types of mortgages and mortgage terms. They aren't always 30 years. They can be on a ten year revolving line of credit. They can be a Real Estate Contract, a Deed of Trust, or an actual Mortgage.

There are products out there that are for 125% of the value of the property.

Your information seems sadly out of date.

Might I suggest that you get in touch with and perhaps join the Assn of Professional Mortgage Women? It's a nationwide organization and is comprised of many experts in the field who actually do know what they're talking about.

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pitbull
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Post by pitbull » Sun May 21, 2006 6:35 pm

Where this is most important is in the area of "re-financing".

For home owners, or those with significant equity, this is one way to raise
money quick for your Scientology Bridge. Fortuntately, for the church, they are not liable for the high pressure sales tactics associated with getting cash any way possible. You, not they, are resonsible for paying off your debts.

This lovely vehicle is only one of many ways to "mortgage your future" to Scientology.
There's an old saying: when the going gets tough - pit bulls call a Scientologist."
-David Miscavige- 8 October, 1993
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probity
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Post by probity » Sun May 21, 2006 8:52 pm

[quote="pitbull"]Fortuntately, for the church, they are not liable for the high pressure sales tactics associated with getting cash any way possible. [/quote]

What if those high pressure sales tactics associated with getting cash any way possible are used by employees of the church? Are they not liable for the actions of their employees?

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