tag:blogger.com,1999:blog-15216381.post3554715420728177057..comments2024-01-19T07:30:41.591-08:00Comments on An Average American Patriot: Nine Myths And Misconceptions About Money That Can Literally Kill Youjmsjoinhttp://www.blogger.com/profile/17631105639275375922noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-15216381.post-91725888212087350702011-12-26T10:07:50.260-08:002011-12-26T10:07:50.260-08:00Demeur the occupy movement is highlighting some re...Demeur the occupy movement is highlighting some really important issues but the MSM who is really in control succeeds in painting them as screwballs.<br /><br />This banking crap is as bad as politics. I am so confused and fed up I do not want to be bothered. It really sucks!jmsjoinhttps://www.blogger.com/profile/17631105639275375922noreply@blogger.comtag:blogger.com,1999:blog-15216381.post-68661091683375420902011-12-26T10:00:02.688-08:002011-12-26T10:00:02.688-08:00First all of this information has been given out w...First all of this information has been given out with the Occupy movement on their live stream broadcasts. And everybody thought they were a bunch of unwashed hippies. They have been running documentaries about our financial system for months now with little attention from MSM other than some pepper spraying incidents and police clubbings.<br /><br />Second before considering a broker fist check the laws of your state. Out here I found that there are no laws governing out of state brokers. One thing you might consider is taking an equity line of credit on your current home and using the money to pay off the first mortgage. That avoids many of the hoops you need to jump through and should be easy considering you have what's called a "seasoned loan". Presently I have an equity line with no closing costs or PMI at 3%. But I must warn you your credit needs to be A1 to get such a deal now as opposed to when I got mine.Demeurhttps://www.blogger.com/profile/01935263659097273535noreply@blogger.comtag:blogger.com,1999:blog-15216381.post-11255555835019117342011-12-26T08:32:28.332-08:002011-12-26T08:32:28.332-08:00Thanks Vicki! Personally I have been scared away f...Thanks Vicki! Personally I have been scared away from mortgages brokers and have been sticking primarily with local banks.<br /><br /> I was very peeved with the bank we took the loan with because they wanted to keep a high rate instead of doing a refi and getting something rather than nothing.<br /><br /> Now they will get nothing or so OI think. The more I learn about all this the more disgusted I get. I say often we are living a lie but boy are we ever!jmsjoinhttps://www.blogger.com/profile/17631105639275375922noreply@blogger.comtag:blogger.com,1999:blog-15216381.post-3935742827720062252011-12-26T07:00:48.973-08:002011-12-26T07:00:48.973-08:00Thank you for all the information you have offered...Thank you for all the information you have offered. Jim, re: refinance, you may be able to take advantage of some refi programs thhat the banks won't tell you about them because they want you to refinance with them. When we refinanced in 2009 from our interest-only loan, we used a mortgage broker (we'd used him before and he was quite knowledgable and honest)and knew about all the products and programs available to us. Our first try, we found our loan couldn't be found in the electronic mortgage system, so he tried one mortgage product but our appraisal came in $62,000 less than we paid for the house in 2007 so it would have required rivate Mortgage Insurance which we weren't about to pay. The second try was with a new 100% loan-to-value government program (no PMI) and the appraisal came in $52000 less than what we paid for the house. Still we got a fully amortized 30 year loan with no PMI for about 3.99 % APR. It ended up with a small bank in Ohio called Fifth Third. You are right that the closing fees on a smaller loan may be too high to consider refi but I still think that a mortgage broker is the way to go because he's not tied to a bank, just make sure he or she is trustworthy or recommended by someone you trust. He gets his commission from the mortgage issuer.Vickihttps://www.blogger.com/profile/06151347352054602839noreply@blogger.com