Just got out of the ARM trap

[refi-rep]

For a "renter" you sure do know alot about the mortgage industry and dont to pull the ole I keep up on the industry routine

If your trying to say it was me, Vrai, can check my IP at anytime and prove your theory wrong

 

[somdrenter]

For a "renter" you sure do know alot about the mortgage industry and dont to pull the ole I keep up on the industry routine

Thanks refi. As seen by the thread topic, it pays to be informed. So, without “pulling the routine”;

I keep up on one of the greatest ponzi schemes in history and it happens to involve the mortgage industry.

 

[somdrenter]

If your trying to say it was me, Vrai, can check my IP at anytime and prove your theory wrong

Not my theory at all refi. But if your theory is:

I still think this is someone trying to promote themselves

That’s pretty funny coming from someone who’s screen name is refi-rep.

 

[Lamini]

Not being nosey but is this on $300K?

youre pretty close, its $294k.

 

[crabcake]

THIS is an example of someone who should probably rent vs. own. That's a hell of a mortgage, and you already have credit problems, it sounds. I have no idea what your income is like, but can it sustain a $2K/month payment and still allow you to pay your other bills and LIVE without being house-poor or living paycheck to paycheck? :shrug: I'm not trying to come across judgmental ... just seems that people in these situations try to dig themselves out of the hole and then something happens and they need to borrow yet more money. Just a thought ...

 

[crabcake]

If you had read what you signed at the time, how would you not know that you had an ARM loan?

well thank you miss ####ing know it all, that was a big help. So glad to hear that you are still perfect.

You're welcome.

 

[Larry Gude]

Care...

...my first mortgage alone went up over $1400 per month. .

...to share a little more detail?

How many mortgages do you have?

How much was the one that went up $1400 a month before it went up? How much was it on and what rate was it and what did it go to?

Thanks

 

[Mikeinsmd]

youre pretty close, its $294k.

Then the loan is actually accurate. The payment without taxes and insurance is approx. $1,812.00. Another $200.00 for ins. & taxes sounds right (low actually) putting your payment in the $2K range,

You said your payment went up $1,400.00. May I ask what it was before the increase?

Price $294,000.00
Yearly Interest Rate 6.25%
Down Payment $0
Number of Years 30
Percent Down 0%
Payments/Year 12
Principal $294,000.00
Payment $,1811.93
Additional Payment $0
Starting Payment 1

....Pmt ......Prin ......Int ...Tot Princ Tot Int Tot Pd Prin Remain
1 1811.98 280.73 1531.3 280.73 1531.3 1811.98 293719.37
2 1811.98 282.19 1529.83 562.87 3061.08 3623.91 293437.22
3 1811.98 283.66 1528.36 846.48 4589.40 5435.84 293153.61
4 1811.98 285.13 1526.89 1131.57 6116.24 7247.77 292868.52
5 1811.98 286.62 1525.40 1418.14 7641.60 9059.7 292581.95
6 1811.98 288.11 1523.91 1706.21 9165.46 10871.63 292293.88
7 1811.98 289.61 1522.41 1995.77 10687.83 12683.56 292004.32
8 1811.98 291.12 1520.90 2286.85 12208.68 14495.49 291713.24
9 1811.98 292.64 1519.38 2579.44 13728.02 16307.42 291420.65
10 1811.98 294.16 1517.86 2873.55 15245.84 18119.35 291126.54