Comments on: Crazy Mortgage Loan Products Coming Soon

By: Stuff Worth Reading, Because Interest Rates Are Falling Through the Floor! | Punny Money

Fri, 21 Sep 2007 11:44:36 +0000

[...] a little creativity is all it takes to save our failing economy. Now if banks would just add a little creativity to their mortgage loan products, we could go back to giving homes to people who can’t afford [...]

By: Bill

Bill — Thu, 17 May 2007 16:04:24 +0000

Re: Nationwidebillrelief.com

“They are the people who did what they could to get in the house of their dreams, nobody should blame them for wanting to live the American dream.”

Responsibility should always go to the consumer. True, the lenders bear some, but the majority belongs to the person who signed on the dotted line. You can live the dream you can afford, not the one you can’t.

By: Drew

Drew — Wed, 06 Dec 2006 02:44:50 +0000

I dig your sarcasim. I’m a big fam of the Pay Option Arm. I have it on my personal home and I recommend it to almost everyone…AFTER I fully explain it to them. The one’s the “get it” really do get it. The one’s that don’t, I steer away from it.

By: Nationwidebillrelief.com

Nationwidebillrelief.com — Fri, 20 Oct 2006 04:52:13 +0000

I don’t feel sorry for the lenders in any way shape or form. There are not the real victims here, the homeowners are. They are the people who did what they could to get in the house of their dreams, nobody should blame them for wanting to live the American dream. I bet there was not of lenders who set down with their customers and said your payment is $950 at 5.5%, it will be $1001 at 6.5 percent, then it will be $1061 at 7.5%, $1141 at 8.5%, then $1280 at 9.5%. What do you think? Do you think the lenders sat down and said this or just told the customer you will pay $950 a month with a chance the interest rate could go up but we can refinance if it does? I know all the blame does not rest on the lenders but they are not the victims, they have more comprehension on how interest and mortgage rates work than consumers do. All the consumer was looking at was the monthly payments and being able to afford the house of there dreams at that payment. Anyway some of the lenders are getting rewarded by refinancing the adjustable rate mortgages.

By: Mighty Bargain Hunter » The 130-year fixed-rate mortgage

Mighty Bargain Hunter » The 130-year fixed-rate mortgage — Sat, 14 Oct 2006 04:57:16 +0000

[...] I saw it on Punny Money, so it must be true! (He tried to sell me a bridge, too, but I already have one.) [...]

By: everysec

everysec — Tue, 10 Oct 2006 19:14:35 +0000

Some of those ideas might not seem as outlandish to banks as you might think. A bank in Ireland has started to give a cash bonus ($2,500) to first time buyers - http://tinyurl.com/kz86b

By: Fynance With a Why » Blog Archive » Future Exotic Mortgages

Fynance With a Why » Blog Archive » Future Exotic Mortgages — Tue, 10 Oct 2006 12:01:17 +0000

[...] Nick over at Punny Money has some predictions about what we can expect from the banking industry over the next several years as the American housing market begins its long slow wind-down. But if there’s one thing of which the banking industry still has plenty, it’s ingenuity. While the days may be numbered for your run-of-the-mill interest-only ARM, I have little doubt that new, fiendishly clever mortgage products will pop up and allow a whole new generation of people to buy over-priced houses with little more than a dollar and a dream. [...]