Comments for Mortgage Blog http://www.ratecomps.com/blog Mortgage Rates, Quotes and Financial Discussion Thu, 20 Nov 2008 11:40:05 +0000 http://wordpress.org/?v=2.1 Comment on Getting a Handle on the Economic “Crisis” by Matthew Blevins http://www.ratecomps.com/blog/2008/10/getting-a-handle-on-the-economic-crisis/#comment-956 Matthew Blevins Wed, 22 Oct 2008 13:31:22 +0000 http://www.ratecomps.com/blog/2008/10/getting-a-handle-on-the-economic-crisis/#comment-956 Roman, I can't say that I do blame them, though I'm not much into hysteria and, if I were in a better position to do so, I would be buying real estate now (and S&P 500 index fund shares, for that matter). Roman,

I can’t say that I do blame them, though I’m not much into hysteria and, if I were in a better position to do so, I would be buying real estate now (and S&P 500 index fund shares, for that matter).

]]> Comment on Getting a Handle on the Economic “Crisis” by Roman http://www.ratecomps.com/blog/2008/10/getting-a-handle-on-the-economic-crisis/#comment-955 Roman Wed, 22 Oct 2008 04:59:20 +0000 http://www.ratecomps.com/blog/2008/10/getting-a-handle-on-the-economic-crisis/#comment-955 Can you blame them? How would you feel if the house that you just bought is work 10k less in a month? or starts to lose its value even faster? Its about saving yourself right now and getting rid of your own debt. Can you blame them? How would you feel if the house that you just bought is work 10k less in a month? or starts to lose its value even faster?

Its about saving yourself right now and getting rid of your own debt.

]]> Comment on Credit Moves from “Easy” to “Hard” Pretty Quick… by Matthew Blevins http://www.ratecomps.com/blog/2007/08/credit-moves-from-easy-to-hard-pretty-quick/#comment-103 Matthew Blevins Thu, 09 Aug 2007 17:38:23 +0000 http://www.ratecomps.com/blog/2007/08/credit-moves-from-easy-to-hard-pretty-quick/#comment-103 BN - without knowing the details of your home financing, I would guess that your "mortgage company" is a brokerage. What's that mean, exactly? Well, it means that they're the middle men in your transaction, i.e. - they attain a loan for you and make sure there's a company/investor on the other side of the transaction that will "hold" the note. Mortgages are typically held by banks or other financial institutions, and in many instances bundled with many other home mortgages to form investment vehicles known as "mortgage backed securities." If your mortgage company is indeed a brokerage, they can go bankrupt and it won't affect you at all. The only thing they actually did for you was to find someone who was willing to lend you money (and, of course, charge a nice fee to do so). BN - without knowing the details of your home financing, I would guess that your “mortgage company” is a brokerage. What’s that mean, exactly? Well, it means that they’re the middle men in your transaction, i.e. - they attain a loan for you and make sure there’s a company/investor on the other side of the transaction that will “hold” the note.

Mortgages are typically held by banks or other financial institutions, and in many instances bundled with many other home mortgages to form investment vehicles known as “mortgage backed securities.” If your mortgage company is indeed a brokerage, they can go bankrupt and it won’t affect you at all. The only thing they actually did for you was to find someone who was willing to lend you money (and, of course, charge a nice fee to do so).

]]> Comment on Credit Moves from “Easy” to “Hard” Pretty Quick… by BN http://www.ratecomps.com/blog/2007/08/credit-moves-from-easy-to-hard-pretty-quick/#comment-102 BN Thu, 09 Aug 2007 15:56:40 +0000 http://www.ratecomps.com/blog/2007/08/credit-moves-from-easy-to-hard-pretty-quick/#comment-102 The bigger question to me as an average consumer and home owner is: What would be the impact to me if MY mortgage company goes bankrupt? What are the scenarios? Government takes over the mortgages? BN The bigger question to me as an average consumer and home owner is:

What would be the impact to me if MY mortgage company goes bankrupt? What are the scenarios? Government takes over the mortgages?

BN

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