Home Capital says it cut ties with 45 mortgage brokers after discovering borrower income was falsified.
5 Replies to “What Could Possibly Go Wrong?”
Hum, alternative financing… I may not be 100% on Dave Ramsey plan (I still use credit card, paid off right away), but I’m 70% there. When it comes time to buy a house, I’m not taking mortgage (I’ve already bought a rental property in cash).
Simple…mortgage brokers charge a commission for arranging a mortgage…..no mortgager no commission….so they lie….DUH….
Real Estate appraisals are notorious for being fraudulent fer the same reason.
This “Home Capital” must be new to the game…..and is at stage 2 (stage one is naively trusting people)…having all their mortgages go bad….
Folks like borrowing money but hate repaying…..some regard getting a loan as a reward for coning a mark out of the money…..
tain’t right……just is…..
Trust in God, if you will, but get paid in cash.
Cash ?
Just paper with not so pretty pictures and a number. The Federal Reserve prints it up by the ton.
How many times have I heard “I need to earn $60,000 to qualify for a mortgage. Can you do a letter or something saying I make that much” My answer is universally NO. Like I want to be sued or go to jail for someone else’s fraud. Apparently some people must welcome it.
Say no to the North American(Soviet)Union Impeach Obama get America out of the United Nations
Hum, alternative financing… I may not be 100% on Dave Ramsey plan (I still use credit card, paid off right away), but I’m 70% there. When it comes time to buy a house, I’m not taking mortgage (I’ve already bought a rental property in cash).
Simple…mortgage brokers charge a commission for arranging a mortgage…..no mortgager no commission….so they lie….DUH….
Real Estate appraisals are notorious for being fraudulent fer the same reason.
This “Home Capital” must be new to the game…..and is at stage 2 (stage one is naively trusting people)…having all their mortgages go bad….
Folks like borrowing money but hate repaying…..some regard getting a loan as a reward for coning a mark out of the money…..
tain’t right……just is…..
Trust in God, if you will, but get paid in cash.
Cash ?
Just paper with not so pretty pictures and a number. The Federal Reserve prints it up by the ton.
How many times have I heard “I need to earn $60,000 to qualify for a mortgage. Can you do a letter or something saying I make that much” My answer is universally NO. Like I want to be sued or go to jail for someone else’s fraud. Apparently some people must welcome it.
Say no to the North American(Soviet)Union Impeach Obama get America out of the United Nations