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Thread: foreclosures up 69% in Queens....

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    Registered User Ras_Apache is offline
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    foreclosures up 69% in Queens....

    thats facked up!

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    God is my pilot Shandy 2.0's Avatar Shandy 2.0 is offline
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    I didn't think it would be worse than in Brooklyn!
    "Create the highest, grandest vision possible for your life, because you become what you believe." - Oprah Winfrey

    "If you keep believing in yourself and seek enthusiasm inside your soul, things will get simpler, more spontaneous." ~Paulo Coelho

    "I find your lack of faith disturbing" - Darth Vader

    Be the kind of woman that when your feet hit
    the floor each morning the devil says:
    "Oh Crap, She's up!"

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    Registered User Ras_Apache is offline
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    Quote Originally Posted by laFemmeChaude View Post
    I didn't think it would be worse than in Brooklyn!
    it was on the news yesterday. i feel bad for the people that have to go through all the fackery related to foreclosures.

    Hard working people trying to make a better life for themselves and family are getting facked.

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    God is my pilot Shandy 2.0's Avatar Shandy 2.0 is offline
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    Yeah and all these loan and mortgage scams aren't helping.
    "Create the highest, grandest vision possible for your life, because you become what you believe." - Oprah Winfrey

    "If you keep believing in yourself and seek enthusiasm inside your soul, things will get simpler, more spontaneous." ~Paulo Coelho

    "I find your lack of faith disturbing" - Darth Vader

    Be the kind of woman that when your feet hit
    the floor each morning the devil says:
    "Oh Crap, She's up!"

  5. #5
    $ CASH MONEY PROMOTIONS$ Dark & Lovely's Avatar Dark & Lovely is offline
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    Quote Originally Posted by laFemmeChaude View Post
    Yeah and all these loan and mortgage scams aren't helping.

    exactlyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy

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    Mr. BALTIMORE Redlocks's Avatar Redlocks is offline
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    Quote Originally Posted by Ras_Apache View Post
    it was on the news yesterday. i feel bad for the people that have to go through all the fackery related to foreclosures.

    Hard working people trying to make a better life for themselves and family are getting facked.
    Whenever I met with clients for the first time and we discussed their
    price range I reminded them that mortgage companies will emphasize
    how much they're willing to lend, but that they should stay within
    their range of comfort in terms of monthly payments. I was always
    too scared to get an adjustable rate mortgage myself.
    Think For Yourself

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    Salsero de pura cepa Otorongo's Avatar Otorongo is offline
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    There are a lot of cases of people filing false information for the people applying and not giving them the full payment as well. Many have no idea they are getting into a variable interest rate or that they also have to pay taxes, insurance and in many cases home association dues as well. A ton of people with minimal income jobs owning two to three properties thinking they are going to live off rent.

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    $ CASH MONEY PROMOTIONS$ Dark & Lovely's Avatar Dark & Lovely is offline
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    I was speaking with a friend of mines that wants to refinance badly....He can hardly pay his mortgage now but he asking to refinance for more money.............

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    Registered User MR HYPE's Avatar MR HYPE is offline
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    i wanna buy a home in about 1 year

    someone please explain how di refinance thing works?

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    Mr. BALTIMORE Redlocks's Avatar Redlocks is offline
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    Quote Originally Posted by Dark & Lovely View Post
    I was speaking with a friend of mines that wants to refinance badly....He can hardly pay his mortgage now but he asking to refinance for more money.............
    He may be in a tough position depending upon how much
    equity he has in the house. I would expect appraisals to
    be coming in much more conservatively these days.
    Think For Yourself

  11. #11
    God is my pilot Shandy 2.0's Avatar Shandy 2.0 is offline
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    Quote Originally Posted by Dark & Lovely View Post
    I was speaking with a friend of mines that wants to refinance badly....He can hardly pay his mortgage now but he asking to refinance for more money.............
    well he's setting himself up for disaster.
    "Create the highest, grandest vision possible for your life, because you become what you believe." - Oprah Winfrey

    "If you keep believing in yourself and seek enthusiasm inside your soul, things will get simpler, more spontaneous." ~Paulo Coelho

    "I find your lack of faith disturbing" - Darth Vader

    Be the kind of woman that when your feet hit
    the floor each morning the devil says:
    "Oh Crap, She's up!"

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    Registered User Canalero is offline
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    Quote Originally Posted by Redlocks View Post
    He may be in a tough position depending upon how much
    equity he has in the house. I would expect appraisals to
    be coming in much more conservatively these days.
    hell yeah,

    especially now in the WINTER!

  13. #13
    Registered User Ras_Apache is offline
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    Quote Originally Posted by laFemmeChaude View Post
    well he's setting himself up for disaster.
    i agree, he is setting himself up for disaster...but ill bet that what he is thinking is that he can take out some refinanced cash to keep himself afloat hoping that somehow in the future he will be earning more money.

    Or maybe he will use the refinanced cash out to make some other investment.....also a very VERY dangerous strategy

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    Registered User MR HYPE's Avatar MR HYPE is offline
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    so when they say refinance...that does not mean lowering your rate at all?

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    Weakness fuh Sweetness Yankee Doodle's Avatar Yankee Doodle is offline
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    Quote Originally Posted by Otorongo View Post
    There are a lot of cases of people filing false information for the people applying and not giving them the full payment as well. Many have no idea they are getting into a variable interest rate or that they also have to pay taxes, insurance and in many cases home association dues as well. A ton of people with minimal income jobs owning two to three properties thinking they are going to live off rent.
    Or people looking to buy property on the cheap then "flip it" which in turn raises property values. Banks give the 80/20 loans or 90/10 loans to people and they don't read the fine print/understand the terms, then get surprised when the mortgage balloons in 5 years. Same story in pretty much every metropolitan area right now. So many empty single family homes/condos where people want the world for them.

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