I just made it by the hair of my chinny chin-chin

[Beachboy]

my contract was re-written three different times before I finally signed it. Fortunately for me I had a agent who made sure this transaction was a painless as possible.

I'm wondering if any of you are in the middle of looking for financing to purchase your dream home and are now facing these kinda problems?

http://www.honoluluadvertiser.com/apps/p.../709040351

[Carey]

OK, now I really feel old. My first house required 25% down for a mortgage.....but that was wayyyy back when.....(when condos weren't $600,000)

[bystander]

I'm glad I refinanced when I did with Countrywide in 2005. Now they are trying everything they can to get me to refinance. The terms and interest rate I have now can't be beat and they know it. With RE prices coming down and interest rates going up, I have them by the balls.

[mella l]

well bystander from what you say, you are now considered a dead beat by the financial institutions because you can pay your note, and you are a drain on their profit possibilities.

I was in that position once, and guess what, they start repackaging your home loan with a bunch of others, and the name of the game is resell to other institutions. When this happens you get a new mortgage lender each year to make your payment to. Fair warning, keep track of each of these transactions, keep on top of them, document them and be sure that the balances transfered to the new loan holder are correct. Been there done that and it wasn't fun.

mella l

Edited by - mella l on 09/04/2007 17:26:35