Off-Topic: Here is personal proof

Off-Topic: Here is personal proof

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	Name:	water_watcher -
	Subject:	Here is personal proof
	Date:	4/3/2009 8:35:49 AM

My son graduated from Auburn 3 years ago. He had a job offer but had not started. He decided to look at condos in MidTown Atlanta to buy. I told him I would not co-sign and would not help with the down payment. He still went out and looked. He came home with a purchase contract and pre approved for a 30 year mortgage for a $190,000 condo. The mortgage was also going to give him $15,000 up front (he did not have to put anything down), and for the first year he only had to pay 80% of the interest with the other 20% adding to principal, the next year it was 90/10, the 3rd through 5th year was interest only, then the mortgage adjusted to current rates each year.

I could not believe it. Fortunately I talked him out of it and showed him what it could do and that he could lose the home etc and it would impact his credit. I was able to get my attorney to get it all cancelled, otherwise he would have been a statistic.

This was a government backed loan and met the "government" requirements (not the banks) for these sub prime loans.

Other messages in this thread:

View Entire Thread

Intellectuals - architect - 4/1/2009 9:48:20 PM

Intellectuals? - Summer Lover - 4/1/2009 10:17:05 PM

What do you believe? - MartiniMan - 4/1/2009 10:17:21 PM

Intellectuals - DJ - 4/1/2009 10:50:24 PM

Intellectuals - rude evin - 4/1/2009 11:27:16 PM

Intelligence - Talullahhound - 4/1/2009 11:30:20 PM

Intelligence - architect - 4/2/2009 12:07:46 AM

Follow-up - architect - 4/2/2009 12:13:34 AM

Suggestion - Summer Lover - 4/2/2009 2:24:12 AM

Architect - READ - water_watcher - 4/2/2009 6:45:05 AM

Intelligence - MartiniMan - 4/2/2009 2:16:35 PM

Intellectuals - JustAGuy - 4/2/2009 2:47:41 AM

Intellectuals - architect - 4/2/2009 8:06:47 AM

Pointless debate? - Lady - 4/2/2009 8:34:28 AM

Pointless debate? - water_watcher - 4/2/2009 10:48:17 AM

Please .... - water_watcher - 4/2/2009 10:49:54 AM

I didn't think so ... - water_watcher - 4/2/2009 2:24:01 PM

I didn't think so ... - architect - 4/2/2009 2:39:06 PM

I didn't think so ... - water_watcher - 4/2/2009 3:32:02 PM

I didn't think so ... - architect - 4/2/2009 7:09:30 PM

I question it.. - alahusker - 4/2/2009 7:44:17 PM

I didn't think so ... - Summer Lover - 4/2/2009 3:45:14 PM

I didn't think so ... - Summer Lover - 4/2/2009 2:42:23 PM

Suppose - Talullahhound - 4/2/2009 5:42:02 PM

Suppose - water_watcher - 4/2/2009 7:04:16 PM

Suppose - architect - 4/2/2009 8:13:58 PM

Suppose - water_watcher - 4/2/2009 8:25:01 PM

Here you go - water_watcher - 4/2/2009 8:29:09 PM

Architect - water_watcher - 4/2/2009 8:48:32 PM

Suppose..YOU ARE SO WRONG - architect - 4/2/2009 9:52:29 PM

Suppose..YOU ARE SO WRONG - architect - 4/2/2009 9:57:17 PM

Read This - It may help - water_watcher - 4/3/2009 5:52:22 AM

Read This - It may help - architect - 4/3/2009 7:44:18 AM

Read This - It may help - water_watcher - 4/3/2009 8:24:11 AM

Here is personal proof - water_watcher - 4/3/2009 8:35:49 AM

Here is personal proof NOT - architect - 4/3/2009 5:40:39 PM

Here is personal proof NOT - water_watcher - 4/3/2009 6:25:52 PM

Here is personal proof NOT - architect - 4/3/2009 9:36:58 PM

Here is personal proof NOT - architect - 4/3/2009 9:43:55 PM

Here is personal proof NOT - water_watcher - 4/4/2009 6:09:38 AM

Here is personal proof NOT - architect - 4/4/2009 8:06:45 AM

Here is personal proof NOT - water_watcher - 4/4/2009 8:30:30 AM

One final thought - water_watcher - 4/4/2009 8:43:29 AM

Here is personal proof NOT - architect - 4/4/2009 9:02:10 AM

Here is personal proof NOT - water_watcher - 4/4/2009 6:51:02 PM

Here is personal proof NOT - architect - 4/4/2009 8:11:02 PM

I almost forgot - architect - 4/4/2009 8:40:04 PM

I almost forgot - water_watcher - 4/5/2009 7:41:55 AM

Here is personal proof NOT - water_watcher - 4/5/2009 7:44:23 AM

Other examples - architect - 4/5/2009 8:02:38 AM

Civil rights? - Talullahhound - 4/4/2009 9:41:00 PM

Civil rights? - cobra - 4/4/2009 10:05:30 PM

Other examples - architect - 4/4/2009 10:21:57 PM

I agree with some - water_watcher - 4/5/2009 8:04:56 AM

Civil rights? - water_watcher - 4/5/2009 7:47:13 AM

Give credit where credit is... - rude evin - 4/5/2009 8:42:53 AM

Give credit where credit is... - architect - 4/5/2009 9:37:09 AM

Give credit where credit is... - water_watcher - 4/5/2009 10:19:38 AM

Give credit where credit is... - architect - 4/5/2009 10:51:08 AM

Give credit where credit is... - water_watcher - 4/5/2009 11:29:52 AM

So - Talullahhound - 4/5/2009 3:22:01 PM

Give credit where credit is... - Lady - 4/5/2009 5:19:40 PM

Give credit where credit is... - rude evin - 4/5/2009 5:42:03 PM

Give credit where credit is... - water_watcher - 4/5/2009 5:49:49 PM

Give credit where credit is... - water_watcher - 4/5/2009 5:47:26 PM

Give credit where credit is... - rude evin - 4/5/2009 6:06:14 PM

Suppose..YOU ARE SO WRONG - water_watcher - 4/3/2009 5:33:25 AM

Suppose - Talullahhound - 4/2/2009 9:33:49 PM

Suppose - water_watcher - 4/3/2009 5:40:40 AM

Intellectuals - au67 - 4/2/2009 9:13:08 AM

Intellectuals - John boy - 4/2/2009 11:27:08 PM

Intellectuals - water_watcher - 4/3/2009 5:42:19 AM

Hey, John Boy... - Mack - 4/3/2009 8:32:39 PM

Intellectuals - AUCATZ - 4/3/2009 12:26:17 PM

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