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Posted by Mike B on August 16, 2006, 9:01 am
Please log in for more thread options Just be careful, places like Maine (no pre pay state), pay option arms are
barely available. It has to be a charted bank...
> Yes. That's what I'm doing right now.
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>> Thanks Jeff for expanding on ARM cons on a rising rate market. It seems
>> to me that ARM to FRM refi is where the $ is at now, would you agree?
>> Thanks again.
>>> That's a tough gig, selling an ARM in a rising market.
>>>
>>> No payment for 90 days
>>> At least 30 days are collected in escrow at closing, the remaining 60 --
>>> or all 90 if 30 are not collected in escrow -- are a neg am.
>>>
>>> Min. Payment
>>> This is a neg am payment. the interest due but not paid is tacked onto
>>> the back end of the loan. Subsequent payments go up. The cap on the
>>> negative is 125% of the initial loan amount.
>>>
>>> Interest Only
>>> This option pays all interest that is due.
>>>
>>> 30- and 15-year Options
>>> These are precisely what they appear to be, they reduce principle to
>>> repay the loan in either 15 or 30 years. If there is an Interest Only or
>>> a Min. Payment made along the way, these two payments will go up to keep
>>> the term at 30 or 15 years.
>>>
>>>
>>> Payments on any of these options will rise or fall each month as the
>>> market goes up and down, and they will go up following any Minimum
>>> Payment.
>>>
>>> Don't get me wrong, I like the loan product. But, it's complicated
>>> product and anybody that considers one should be fully informed.
>>>
>>>
>>>
>>>
>>> OPTION ARM, 1% RATE Lending...
>>>
>>> Call us for a FREE Consultation!
>>> 1-877-LEND-150 is just what the doctor ordered!
>>>
>>> :: Need to lower you over head and expences?
>>> :: Want to create a Positive Cash Flow on an Investment Property?
>>> :: Feeling the pain of loosing deals & wasting time?
>>> :: Sick of being negative every month?
>>>
>>>
>>> And Now!!.. 5 Payment Options
>>> (example on a $750,000 Loan)
>>>
>>> 1. Waive Payments 1st 90 Days -> NOTHING FOR 90 DAYS
>>> 2. Minimum Payment -> $2412.30
>>> 3. Interest only Payment -> $4062.50
>>> 4. 30 Yr fully amortized -> $4740.51
>>> 5. 15 Yr fully amortized -> $4488.71
>>>
>>>
>>> Broad Choice
>>> » Purchase / Refinance
>>> » Cash-Out upto 100% LTV
>>> » Residential Properties
>>> » Debt Consolidation
>>> » 40yr financing on MTA
>>> » (Zero!) 0% Rate & No Payments for the first 90 days
>>> » Loans to $2 Million
>>> » Ability to lend in 50 States
>>>
>>> Loans for Real People
>>> .: Cash-out
>>> .: Rate & Term
>>> .: Lower your Over Head
>>> .: Debt Consolidation
>>> .: Create Positive Cash Flow
>>> .: Great for Investers
>>> .: Work smarter not Harder
>>> .: Use savings to spend more time with your family
>>> .: No Doc ,?Stated,?Full Doc,?Non-owner ,?2nd Home,?
>>>
>>> Benifits:
>>> » $0.00 Closing Cost (subject to resrtictions)
>>> » No PMI
>>> » Payment Deferral
>>> » Knowledgable Mortgage Professional
>>> » Tailor Made Needs
>>> » Tax write-off
>>> » ...and the Obvious - LOWER MONTHLY PAYMENTS
>>>
>>> Silver Lending Group, LLC. is a "partner you can trust" and not an
>>> impersonal,
>>> inflexible processing factory.
>>> 1-877-LEND-150
>>>
>>> Regards,
>>>
>>> Silver Lending Group, LLC
>>> IRWIN ELLIS
>>> toll free: 877 LEND 150
>>> tel: 408.441.1494
>>> fax: 408.441.1496
>>> email: Irwin@silverlending,com
>>>
>>> We do mortgages in 50 states!!!!!!
>>>
>>
>>
>
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