Is Negative Amortization Loans Illegal? How Can I Get a Mortgage Note Rewrite?

They’re not illegal, but a reputable lender wouldn’t write one. The risk of property value decreasing as the loan balance increase would make it extremely risky. You wouldn’t think of buying a home that’s worth less than the asking price.

There were some loans written a few years ago that were negative amortization loans with the expectation that later, you’d be able to catch up. Catch up didn’t happen.

Although the real estate crisis now was not brought on by negative amortization, the resule is the same. Houses were selling for much more than they were worth, market collapsed, now homeowners are negatively amortized (house worth less that loan balance).

If the apraised value of the house is less than your current value, I don’t think you can get a rewrite.

What can we do against a mortgage broker and taking a loan grossly deceived me wrong.?

The document was signed and entered into the loan two weeks ago, and I just learned that I took with a negative amortization loan and a prepayment penalty of 3 years that I have no idea who was in terms of the loan had.
This is my first house, and I’ll buy a small flat in need of a mortgage or loan. In exploring the acquisition costs, it seems that these are the charges and mortgage lenders related. If I have no mortgage or a lender, there are still closing costs and, if so, what would it take? Thank you:)

I had an 80/20 loan for my home (in AZ) that was foreclosed on last year (sold in auction).?

Both loans were with the same bank and purchase money. I have been receiving creditor calls, I assume for the second mortgage. They took my home, what more do they want. Do I have any options here? It was my understanding that they could not come after me for purchase money loans in AZ. What should I do? Are they going to sue me? Am I going to have to pay back the 2nd mortgage for a home that was taken from me?

We are in negotiations on a owner finance deal. This would be our second home purchased this way. The first time the seller defaulted on his loan and the house was foreclosedd on. So, this time we are asking the seller to allow us to make our payments to her mortgage company or show us quarterly statements showing the mortgage payments being made or we could put something in the contract that says we would get all out money back if her mortgage goes into default for non payment. The seller doesn’t want to do any of these things. What other ideas could we suggest?

Why Has The Federal Reserve Not Been Abolished Since It’s A Private Bank?

PR Specialists/Publicists working for the Banking Families; monitor sites and post erroneous information to confuse citizens, but the Federal “Reserve” is a Private Bank with a governing board “chosen” by Presidents who receive significant campaign contributions. The Federal Reserve actually has shareholders.

Shareholders: http://www.save-a-patriot.org/files/view/whofed.html

By the way people, the latest Banking crisis is NOT REAL. It’s just a scam to screw the little shareholders out of their stock and STEAL Tax Dollars (437$ Billion) a Day From The Voiceless Masses. The fall of those banks was intentional. You can’t honesty tell me those dandy investment bankers were idiots. This was no accident. Why were these institutions bankrupted and then bought out after the stockholders lost everything or simply bought outright for pennies, by some of the same institutions that own the Fed? WaMu, Bear Sterns, Wachovia, Merrill Lynch & Co.,Countrywide Financial Corp. are just a few of these companies that were “purchased”. In addition, with flat or declining wages in America and Inflation at 10%, you actually lose buying power (or money, depending on how look at it) when the bank only gives you 2.5%-5.0% from cash in your account, your still losing 5.0% of your assets(if you’re lucky).Then they lend your money right back to you on credit cards for 12%-18%. Loan sharks take less. Conspiracy is a term used to discredit individuals with factual information. I don’t believe in aliens or black helicopters. But these people are stealing from YOU: FACT. The “experts” who deny it are obviously serving your best interest. They have “advised” this economy exceptionally well don’t you think? How much is your house worth? If you buy a 200K house for 30years fixed, It actually costs you around 600K. And people wonder why they are poor? The Only Way To Get Rich, Is To Stay Away From Debt. You can rent a house, or you can “RENT” FROM THE BANK FOR MUCH MORE. Rent from a bank and they will let you paint that little fence and make improvements because they know after you lose your job of 10yrs, you lose that house. Did they really lose money? No, They already got their 200K back (mainly “Interest the first 15yrs on a mortgage”). Then they take your house. Pay cash for everything you can. Use the money you don’t need for bills and start a business, that way your capital is working for you.
On top of that the Politicians-Financed By Bankers, decide to absorb-socialize-take custody, whatever you want to call it, Freddie Mac and Fannie Mae with a combined 5.4 trillion in outstanding mortgage debt. What that means to you is this: You GET stuck with a whopping 5.4 Trillion in debt, plus the (700$ Billion-Bail-Out). Plus $ 437.53 Billion a day to keep financial companies afloat. These Banks/Insurance Companies lobbied for the removal of the Gramm-Leach-Bliley Act just in time.

http://www.newsdaily.com/stories/tre49f979-us-usa-fed-discount/