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Dan The Mortgage Man - 1% Loans & NegAm Posted by: danthemortgageman
Video duration: 382 seconds Global video hits: 12215 Mortgage Expert Dan 'the mortgageman' Foster explains the risks of Negative Amoritization Loans and why the 1% Interest Rate offers that fill your mailbox are not what they seem - BUYER BEWARE - Originally broadcast live on Good Day Sacramento Related: arm, credit, day, estate, expert, good, home, interest, loan, mortgage, news, only, option, pickapay, rate, real, refinance, sacramento Display Video Comments | Hide Video Comments | Add Comment |
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Latest comments made on this video:
By: cjjorgensen. on 25 Sep 07, 17:16:11
I am a traveling notary and I saw hundreds ot these. It is a crime for me to give my advice or opinions becuase I am not an attnory, so I had to keep my mouth shut. But what I was was people who got themselves maxed out in debt with big cars, and mall credit cards, then got a neg am loan to cover it. Pay cash and don't live beyond your means, and you won't need a neg am loan.
By: MacPercuss777. on 05 Sep 07, 01:48:01
Thanks for posting this. I learned something.
By: ApollosWorld1. on 17 Aug 07, 00:06:51
Hey Dan. Youd did good. I knew you from Great American Mortgage. I was your rep from MILA.
By: george4title. on 14 Aug 07, 18:11:14
Thanks
By: mikeeor. on 11 Aug 07, 15:12:21
Man are you way off. I don't believe any one particular loan is appropriate for everyone. Need to explain better what amortization is. What about time value of money, leverage cash flow. I agree, these loans are really bad for most. All the same, nice work.
By: khanzh. on 01 Aug 07, 03:27:28
want dan the man to get on youtube on a regular basis, we want more info!!!!!!!11
By: seanmg. on 08 Jul 07, 05:50:47
I used to work at a mtg co. and I never offered these types of options. Fastest way to owe more than your home is worth short of just getting a 110% LTV loan.
By: artistknownasbeavis. on 30 Jun 07, 01:38:11
Yea but Dan didn't tell you the rate is higher without a prepayment penalty. Some states have pre-pays and some don't but if you can't get the "A" loan then your rate might be higher WITHOUT a prepay.
By: artistknownasbeavis. on 30 Jun 07, 01:37:01
It has a place for investors - some investors want the lower payment as they are going to sell in 1 year so it has a purpose in some instances.
By: mortgagenewyork. on 27 May 07, 19:20:11
Excellent explanation. Deal with real mortgage professionals, not scammers.
By: 2ndvariety. on 03 Sep 06, 00:13:18
Great video, keep it up man!