"Why would my mortgage broker try to put me in a HP30 (Home Possible) versus a CF30 (Conforming 30 year). Now he is telling me that he needs to do my loan under a MC30 (My Community). The home price is $285k with 20% down (3% by buyer, 17% is a silent second loan provided by the city). My FICO score is 780. The main reason I was given was that HP30 is currently at 6.5% (even though I locked 40 days ago at 5.25%) and that MC30 is at 5.5%. From what I have gathered these programs run at almost the same..."    View Post

"I'm not a broker or realtor, but I'm pretty sure you can file bankruptcy and this will stop the process. Find a bankruptcy lawyer ASAP and see what they can do, hopefully it's not to late.... The way I see if a foreclosure will look bad on your credit as much as filing bankruptcy...."    View Post

"Interesting Visual Video on how we got into this whole mess... any input after you have seen the video would be interesting http://vimeo.com/3261363?pg=embed&sec=&hd=1"    View Post

"thanks, I just found out from my lender that there is no Prepayment penalty, BUT one more question.... I was reading through the net last night that the original lender did not have a prepayment penalty but when the loan was sold that a prepayment penalty was added, something about an option to do so, I can't seem to find the link but Is this possible?"    View Post

"I am in the middle of escrow (Southern California) and we are in the process of waiting for the underwriter to complete their portion of the process before we go to doc's with a close date of March 27th. (60 Day Escrow) My loan is a 30 year conventional Loan with 23% down at a 5.25 rate. I am wondering (while reading around on the net) are lender's forcing or offering a rate reduction 1/8 point to agree to a prepayment penalty. Based on my reading's if this is an option I will be not..."    View Post