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jredz
Joined: 18 Nov 2007
Posts: 61
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| Posted: Wed Mar 25, 2009 8:47 pm Post subject: Stated Income Loans Are Back |
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| http://www.fpf-direct.com/article.php?id=91 |
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m2c
Joined: 03 Aug 2005
Posts: 937
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| Posted: Wed Mar 25, 2009 10:44 pm Post subject: |
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| Love when they post an ad without APR. 5.75% for a 30-year loan (a balloon) as a "great" rate. Interesting. |
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Greg Phillips
Joined: 13 Dec 2005
Posts: 123
Location: Chillicothe, Ohio
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| Posted: Thu Mar 26, 2009 9:38 pm Post subject: |
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3 yr and 5 yr fixed rate......
That term should be not used. The term fixed should never be inserted into any ARM product. It confuses people.
A Stated Income ARM loan is suicide. They almost appear to want to take the house knowing no other programs are out there for them to exit the ARM when it adjusts. |
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