Consequences of stopping paying mortgage

Quote from Trader5287:

Go consult a reputable bkrptcy lawyer especially if your troubles are more than just the mortgage payment issue.




I, Deviant -- special welcome is in order - that is one fkn cool handle. Best I've seen on the net in years. :cool:
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LOL thanks man. I figured it would be good handle to ring in the new year....
 
Quote from I, Deviant:

I am in mortgage banking myself.

Your Fico SCORE is fucking completely objective you moron.

Lending is not totally objective, I never said it was. READ what I wrote. How bout you do a little thinking yourself?

Jesus Christ. Good luck getting a mortgage if you have a bankruptcy in the past x amount of years,depending on the lender, but I am TELLING YOU, your FICO SCORE will be FINE as far as the SCORE (ie THE FUCKING NUMBER) goes.....

Whether or not you get the loan because you have a bankruptcy is the part that is subjective. Don't talk about shit you don't know.
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Do most of you rocket scientists in the mortgage banking business talk to other people like this? Kind of explains a lot for me.
 
Quote from selecto:

Do most of you rocket scientists in the mortgage banking business talk to other people like this? Kind of explains a lot for me.
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Can't speak for anyone but myself.

P.S. No sub prime lending here. Just the good ones..in case you were wondering.
 
blackjack
1000% b.s.

"why don't you file for bankruptcy and let me know how your fico turns out?

i can't believe some of the crap i read on e.t. "[/QUOTE]

1000%?

your name says blackjack which means you should be all about statistics. you should have stuck with 100%. i honestly think you should change your name to dumbjack.
 
Quote from ggoyal:

1000%. your name says blackjack which means you should be all about statistics. you should have stuck with 100%. i honestly think you shoudl change your name to joker or something.
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LOLOLOL
 
Quote from dandxg:

After the 7 year period, it could get better, but I agree with you essentially. When you look for a decent job now they run credit so good luck there unless you employer is in a similar situation to you.
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Countrywide?
 
Did you try a short sale with the lender, I would do that first

Offer them less for the house, let's say you have a mortgage of 350K and you feel the house is worth 275K offer the lender 275K
and see what they say.

I actually have set up short sales for lenders and more than likely
they will listen to you, and take into consideration

They know what the value is so you will have a chance !!

just a thought, also if you are going to re adjust you can get it locked in for 5 more years at your start rate

Good Luck,

Joe Baker

P.S I also own a finance co. if you want to get any more info just
email me, I will be happy to help any way I can

Real Estate will come back, however it may be a while before it does also you get a nice tax deduction when paying a mortgage
 
Quote from I, Deviant:

Go do some research and then come back- let me know what you find out okay?

Thanks.
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this is what you said, smartass:

"So in essence once you've filed bankruptcy, you'll end up with better credit than most out there, oddly enough"

so you're saying that the moment someone files for bankruptcy, their credit becomes better than most people's? if you have "better credit", you should stand to get better interest rates on loans. so you're implying that filing for bankruptcy will help you get a better interest rate than most people.

that's such bullshit it's laughable.

i hope you don't work for a credit counseling service, lol..
 
Quote from I, Deviant:

I am in mortgage banking myself.

Your Fico SCORE is fucking completely objective you moron.

Lending is not totally objective, I never said it was. READ what I wrote. How bout you do a little thinking yourself?

Jesus Christ. Good luck getting a mortgage if you have a bankruptcy in the past x amount of years,depending on the lender, but I am TELLING YOU, your FICO SCORE will be FINE as far as the SCORE (ie THE FUCKING NUMBER) goes.....

Whether or not you get the loan because you have a bankruptcy is the part that is subjective. Don't talk about shit you don't know.
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lol, you can't get any clearer than that.

most people are too stupid. Where does the 95% fail in trading stats come from? well 95% of the population are stupid sheep.
 
Quote from ggoyal:

blackjack
1000%?

your name says blackjack which means you should be all about statistics. you should have stuck with 100%. i honestly think you should change your name to dumbjack.
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the level of wittiness in this comment makes me think you're a 15 year old acne-covered geek.

i bet if someone said they were so hungry they could eat a horse, you'd point out that it's not possible for the human stomach to digest a horse.

rofl..

get out some more and learn some social skills ffs.
 
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