Mortgage Expert Dan ‘the mortgageman’ Foster explains the risks of Negative Amoritization Loans and why the 1% Interest Rate offers that fill your mailbox are not what they seem – BUYER BEWARE – Originally broadcast live on Good Day Sacramento
Duration : 0:6:22
I am a traveling …
I am a traveling notary and I saw hundreds ot these. It is a crime for me to give my advice or opinions becuase I am not an attnory, so I had to keep my mouth shut. But what I was was people who got themselves maxed out in debt with big cars, and mall credit cards, then got a neg am loan to cover it. Pay cash and don’t live beyond your means, and you won’t need a neg am loan.
Thanks for posting …
Thanks for posting this. I learned something.
Hey Dan. Youd did …
Hey Dan. Youd did good.
I knew you from Great American Mortgage.
I was your rep from MILA.
Thanks
Thanks
Man are you way off …
Man are you way off. I don’t believe any one particular loan is appropriate for everyone. Need to explain better what amortization is. What about time value of money, leverage cash flow. I agree, these loans are really bad for most. All the same, nice work.
want dan the man to …
want dan the man to get on youtube on a regular basis, we want more info!!!!!!!11
I used to work at a …
I used to work at a mtg co. and I never offered these types of options. Fastest way to owe more than your home is worth short of just getting a 110% LTV loan.
Yea but Dan didn’t …
Yea but Dan didn’t tell you the rate is higher without a prepayment penalty. Some states have pre-pays and some don’t but if you can’t get the “A” loan then your rate might be higher WITHOUT a prepay.
It has a place for …
It has a place for investors – some investors want the lower payment as they are going to sell in 1 year so it has a purpose in some instances.
Excellent …
Excellent explanation. Deal with real mortgage professionals, not scammers.
Great video, keep …
Great video, keep it up man!