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New mortgage disclosures on the horizon

By tvgnus   Follow   Tue, 10 Jul 2012, 4:54am   406 views   3 comments
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http://www.centralvalleybusinesstimes.com/stories/001/?ID=21437

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1. CaptainShuddup Follow Befriend (1) 250 threads 4,758 comments

   1   6:58am Tue 10 Jul 2012   Share   Quote   Permalink   Like   Dislike (1)   I love it, when I got my mortgage, the lender was free to change that disclosure and send me a new one every day, until closing. This means, that the bank sends me a mortgage disclosure, but the loan officers drag the process out for 30 days, neither approving or denying the loan. Also depends on federal FHA approval. This goes on 30 days or more before closing. The only one that means anything, is the one you sign at closing. Which by that time, you have been morally beaten to a withering little nub that would sign anything. The emotional toll these lending institutions can inflict on you now, is limitless. They just cite they are following the new guidelines as set by the Dodd Frank act. The more things change the more we're screwed.

2. APOCALYPSEFUCK is Shostakovich Follow Befriend (28) 171 threads 4,222 comments Premium

   2   8:54am Tue 10 Jul 2012   Share   Quote   Permalink   Like   Dislike   Protected   The only way to beat this decisively is to standardize mortgages to a single instrument - 25-50% down, no points, lender gets $50 origination fee, maybe a tip, fixed rate, no early discharge fee, forward-loaded amortization. And/or to just culturally reject any form of debt as satanically evil and subject to manipulation by the agents of satan, etc. (e.g. It's CASH or FUCK YOU, America!)

3. New Renter Follow Befriend (3) 13 threads 2,227 comments San Jose, CA Premium

   3   9:48am Tue 10 Jul 2012   Share   Quote   Permalink   Like   Dislike   Protected   APOCALYPSEFUCK is Shostakovich says The only way to beat this decisively is to standardize mortgages to a single instrument - 25-50% down, no points, lender gets $50 origination fee, maybe a tip, fixed rate, no early discharge fee, forward-loaded amortization. And/or to just culturally reject any form of debt as satanically evil and subject to manipulation by the agents of satan, etc. (e.g. It's CASH or FUCK YOU, America!) But but this would make it harder for people to borrow more than they can afford! People might lose their motivation to work 90+ hour a week to meet the minimum CC and mortgage payments. Its unamerican I tell you!