tag:searchlightcrusade.net,2024:/mt//feed/negam 2024-04-28T21:54:28Z Movable Type 4.21-en 21 1 21 tag:gockel.hmdnsgroup.com,2007:/~searchli/danmelsonsite//4.3202 2008-05-18T14:00:00Z 2008-05-18T14:54:17Z Dan Melson http://www.searchlightcrusade.net/ First let me say that I really learned a lot from your postings/articles/website; its awesome that a resource like yourself exists. Now to the problem. I recently refinanced and the mortgage broker lied to me about many, many things.... tag:gockel.hmdnsgroup.com,2007:/~searchli/danmelsonsite//4.3183 2008-04-19T14:00:00Z 2008-04-19T15:43:40Z Dan Melson http://www.searchlightcrusade.net/ In all of my conversations on mortgages with prospects, there is one subject that comes up over and over and over again, and that is the subject of payment. "But that loan over there only has a payment of $1450!... tag:gockel.hmdnsgroup.com,2006:/~searchli/danmelsonsite//4.3159 2008-03-23T14:00:00Z 2008-03-23T14:00:42Z Dan Melson http://www.searchlightcrusade.net/ Having written several articles on Negative Amortization Loans, telling of the details of what is wrong with them, and even destroying the myth of Option ARM cash flow, I sometimes get asked if I would like to see them banned... tag:gockel.hmdnsgroup.com,2006:/~searchli/danmelsonsite//4.3112 2008-02-09T15:00:00Z 2008-02-09T16:08:58Z Dan Melson http://www.searchlightcrusade.net/ One of the standard arguments I hear about negative amortization and Option ARM loans is that they "give the client the option to make a smaller payment if they need to." This so-called "Pick A Pay" benefit is a real... tag:gockel.hmdnsgroup.com,2006:/~searchli/danmelsonsite//4.3090 2008-01-20T15:00:00Z 2008-01-20T16:37:00Z Dan Melson http://www.searchlightcrusade.net/ I keep getting hits for this, so people must want it explained. Loan Amortization is nothing more than the process of paying the loan off by regular payments over time. Leave it to the experts to come up with a... tag:gockel.hmdnsgroup.com,2006:/~searchli/danmelsonsite//4.3005 2007-10-21T14:00:00Z 2007-10-21T15:27:15Z Dan Melson http://www.searchlightcrusade.net/ Read your article on negative arm loans, and for the person who only owns a residence and most real estate investors it will not work. I own several properties, and the parcel to be refinanced is ocean front...so is... tag:gockel.hmdnsgroup.com,2006:/~searchli/danmelsonsite//4.3004 2007-10-14T14:00:00Z 2007-10-14T15:48:31Z Dan Melson http://www.searchlightcrusade.net/ Hello, I've been reading your website for awhile now, and have found it very helpful as I'm learning to navigate this crazy loan process! I had a question I was wondering if you could write about/answer. We currently have... tag:gockel.hmdnsgroup.com,2006:/~searchli/danmelsonsite//4.3003 2007-10-13T14:00:00Z 2007-10-13T15:45:06Z Dan Melson http://www.searchlightcrusade.net/ I was approached by these folks a few weeks ago via email. I attempted to get them to write up the experience themselves (and I would still like you to if you're reading this), but I wanted to write something... tag:gockel.hmdnsgroup.com,2006:/~searchli/danmelsonsite//4.3002 2007-10-10T14:00:00Z 2007-10-10T13:51:40Z Dan Melson http://www.searchlightcrusade.net/ Ken Harney has a column I found in the local rag yesterday. It seems that there is (finally!) concern amongst the regulators for this risky loan which begs for trouble for consumer, lender, and the system as a whole when... tag:www.danmelson.com,2007://4.3553 2007-10-09T14:00:00Z 2007-10-09T14:09:41Z Dan Melson http://www.searchlightcrusade.net/ This is one of the biggest issues with my local real estate market. Because the San Diego market has very high demand and limited supply of property, prices are high. A reasonable two bedroom condo runs around $300,000. A 1200... tag:www.danmelson.com,2007://4.3539 2007-10-02T14:00:00Z 2007-10-02T07:08:10Z Dan Melson http://www.searchlightcrusade.net/ I've seen more changes in the lending industry in the last six months than the previous five years. But those changes simply restored us to the place we were a few years ago. Loans are easy to get, rates are... tag:www.danmelson.com,2007://4.3529 2007-09-26T14:00:00Z 2007-09-26T14:02:01Z Dan Melson http://www.searchlightcrusade.net/ The negative amortization loan is a very popular loan with certain kinds of real estate agents and loan officers. It has two great virtues as far as they are concerned. First, it has a low payment, and despite the fact... tag:www.danmelson.com,2007://4.3482 2007-09-09T14:00:00Z 2007-09-09T18:14:33Z Dan Melson http://www.searchlightcrusade.net/ HI, My name is DELETED and my husband and I are searching for a way to get out of our Negative ARM loan before we get upside down. Our problem right now is our loan to value. Our loan... tag:gockel.hmdnsgroup.com,2007:/~searchli/danmelsonsite//4.3462 2007-08-20T17:00:50Z 2007-09-07T22:43:14Z Dan Melson http://www.searchlightcrusade.net/ Here's another advertisement that I've gotten in the mail: "Pick a Pay, Any Pay!' The Revolutionary Option ARM!" "Start rates as low as 1%!" Loan amount $100,000 Payment $321.64 $200,000 $643.28 $300,000 $964.92 $400,000 $1286.56 Could this help save you... tag:gockel.hmdnsgroup.com,2007:/~searchli/danmelsonsite//4.3452 2007-08-12T17:01:14Z 2007-09-07T22:25:05Z Dan Melson http://www.searchlightcrusade.net/ No, this isn't the Hitchhiker's Guide to the Galaxy But having written half a dozen articles roundly critical of the way in which these loans are generally sold, it's not unusual for me to get e-mail like this one: Hi,... tag:gockel.hmdnsgroup.com,2007:/~searchli/danmelsonsite//4.3352 2007-05-22T17:01:19Z 2007-09-06T03:49:07Z Dan Melson http://www.searchlightcrusade.net/ I read a lot of the info. you have on your web page ... thank you. I don't live in San Diego so I'm not looking for a home. What I am trying to decide is whether to sell... tag:gockel.hmdnsgroup.com,2007:/~searchli/danmelsonsite//4.3343 2007-05-15T17:00:35Z 2007-09-06T03:33:38Z Dan Melson http://www.searchlightcrusade.net/ My article on Option ARM and Pick a Pay - Negative Amortization Loans is one of my most popular. It gets all kinds of search engine hits, both here and at my other site. If I don't get at least... tag:gockel.hmdnsgroup.com,2007:/~searchli/danmelsonsite//4.3325 2007-04-30T17:01:01Z 2007-09-06T00:23:37Z Dan Melson http://www.searchlightcrusade.net/ An email: Greetings, I've recently been pitched the idea of refinancing my home and investing in apartments, or more precise, a four-plex. The idea is to refinance and get a negative amortization loan on my house. With the money I... tag:gockel.hmdnsgroup.com,2007:/~searchli/danmelsonsite//4.3298 2007-04-10T17:00:26Z 2007-09-05T23:34:57Z Dan Melson http://www.searchlightcrusade.net/ That was the wording of a search engine hit I got. It's not literally a death trap, of course, only much financial pain. But the hyperbole is forgivable in today's modern society and the state of the current market. Other... tag:gockel.hmdnsgroup.com,2007:/~searchli/danmelsonsite//4.3281 2007-03-27T17:00:03Z 2007-09-05T23:09:30Z Dan Melson http://www.searchlightcrusade.net/ I am not exactly certain how to start this essay. I'm kind of in a position analogous to writing Hitler's biography in late 1940. We know at this point he's a miserable excuse for a human being, but we don't...