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Posted by theronsah@gmail.com on September 2, 2007, 8:43 pm
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wrote:
> Maybe mortgage companies that are about to go bankrupt could raise quick
> cash by offering their customers incentive to pay early. Maybe a discount
> on their mortgage. Say for every $1k paid early they could take $1250 off
> the mortgage. Maybe expensive but better than bankruptcy, isnt it?
> Probably someone will come up with 5 reasons why it wouldnt work, but I
> thought Id throw that out for thought.
unless you are talking about jumbo/portfolio, Fannie Mae held loans
would not benefit the mortgage company holding the servicing as thay
are not allowed to profit from it expect in pay from Fannie and
interest on escrows (as well as late payment fees, ever see the
articels on CW Profit bumping?).
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