Get A 0% Down Sub-Prime Mortgage Now – Join The Scam – Default By May 30th And Get Your Government Bailout Before Labor Day 2009

If you thought you missed your chance to scam your friends and neighbors with a sub-prime mortgage loan – you know a loan you can’t afford for that bigger house you always wanted – your wrong.

Live the champagne life on a beer budget and let your neighbors pick up the tab.

Visit any of the cites below and get your sub-prime loan now ….. you still have time to default and get your the mortgage “crammed” down and “modified” before summer. Use the extra cash to buy a new car and boat ………. 

100% Financing Loans

More and more Americans are choosing to pay for their home with a 100% financing mortgage, also known as a no down payment or a zero-down mortgage loan.  This type of home mortgage frees borrowers from the worry and burden of having to gather and set aside funds for closing costs and a down payment in order to purchase a home. 

100% financing, or complete financing of the property via a first mortgage exclusively

….. we offer bad credit mortgage loans, which service consumers with scarred credit histories and “incapacitating financial circumstances”.

  • No cash is required for down payment
  • Stocks and other investments need not be liquidated to purchase the property
  • Private mortgage insurance is not required (unlike a conventional loan)
  • The greater the amount financed, the higher the tax deduction for the loan interest paid
  • The opportunity to use and/or start earning equity in the new home, instead of having it tied up
  • The ability to have their money earn interest in a money market fund or savings account
  • Diminution of their financial risk and risk-shifting to the lender [The lender shifts the burden to the taxpayer via a bailout]
  • Qualify for a bigger mortgage

Borrowers must decide whether to apply for an adjustable rate mortgage (ARM) or a fixed rate mortgage.  Eligibility requirements for the former are easier to satisfy, and an ARM offers lower mortgage rates.  [McAuley's World - Wow, you can get an ARM and blame the lender later] 

Compare Mortgage Loan Rates: 
  • 100 Percent Financing Loan
  • Adjustable Rate Mortgage
  • Interest Only Mortgage
  • Subprime Mortgage

http://www.myhomeloanmortgages.com/rates/100-percent-financing.aspx

Low Cost No Money Down Home Loan Solutions

AAXA Discount Mortgage is pleased to offer fast, flexible no money down mortgage financing. The flexibility that these programs provide does not have to mean high rates and fees….  Our lenders offer highly competitive zero down home loans to qualified borrowers even if their credit is less than perfect.

100% Mortgage Financing Programs , Creative Option to Finance Closing Costs, No Money Down Mortgage with No Private Mortgage Insurance, Adjustable Rate Zero Down Mortgage Products,  Less than Perfect Credit.

If you are searching for the lowest payment possible, be sure to check out our interest only mortgage and option ARM programs.  

http://www.forthebestrate.com/no-money-down-mortgage.aspx

Zero Down Loans

Closing costs can be financed – $250,000 to $962,000 – Credit scores as low as 580 (580 scores credit limit is $500K) – No income Verification – No Asset Verification [McAuley's World - Get Your NINJA Loan here - No income, No Asset, No Job, No problem]  http://www.loanshoppers.net/zero_down.htm 

Zero Down

 

A zero down loan is good when you don’t have enough cash to pay your closing costs and make a down payment on the purchase of your home. It is also used to avoid paying Private Mortgage Insurance (PMI) costs. PMI is an additional charge you pay if you make less than a 20 percent down payment. This insurance policy protects the lender in the event of a payment default or foreclosure, and the loan is not paid off in full.

Zero down programs allow you to buy your home now, instead of waiting to save enough for a down payment.

There are several options available for buying a home with zero down.

Get one new loan at 100 percent loan-to-value (LTV), Some zero down programs allow you to borrow 3 to 7 percent of the purchase price to pay your closing costs. WE MAKE LOANS NOT EXCUSES!!!    http://landmarkmortgagelending.com/zero_down.html

CHOICE FINANCE

Question
Can you please tell me more about the zero down option on the mortgage loan program?  which types are they, what kind of credit score does it allow for?

Answer
There is a lot of information regarding “zero down” mortgage programs. There are some great programs backed by Fannie Mae and Freddie Mac (these are the 2 government backed giants that control the industry) with great interest rates and credit requirements that don’t have to be sterling.

I’ll give you an example: a borrower could have a 650 credit score and qualify for a “zero down” program backed by Fannie and Freddie. The rate would be approximately 6.5%.

However, here’s another example: a borrower could have a credit score of 580 and no longer qualify for Fannie and Freddie but would be able to obtain 100% financing with well respected, publicly traded (NYSE or NASDAQ) companies. But the rate would be higher. [McAuley's World - The rate is only higher until to apply and receive your "mortgage modification" where you can have the rate written down to 2.5% and have your "principal crammed down" and let your neighbors pay for the reductions through higher taxes - you can't beat this deal with a stick]

http://www.choicefinance.net/blog/tag/zero-down-financing/

100% Financing No Down-payment Mortgage

  • No Cash needed for down payment
  • Don’t need to liquidate stocks and other investments
  • Borrower may want to finance as much as possible for tax deduction purposes. 
  •  Debt ratios of 45 or less  [McAuley's World - Don't worry - after default - the Governemnt will write you down to a 31% debt ratio and your neigbors will pay the extra 14% for you] 
  • http://www.erate.com/100_percent_financing_no_downpayment_mortgage.htm

    Zero Down Home Loans
    Home Purchase Loans – 100% Home Financing – No Money Down

    Zero Down Home Loans are offered to consumers with good and bad credit for 100% financing. We practice fair lending with 100% financing for conventional, home purchase loans, sub-prime, pick a payment loans, jumbo mortgages, negative amortization and interest only loans. 

    “Many people in California are finding the best way to get a low monthly payment is with the 1.25% negative amortization loans that allow borrowers to defer the interest until the end of the year. These payment option loans offer borrowers a payment that is even lower than the interest only payment. The negative amortization option is only available until the mortgage balance reached a 115% or 125% of the original mortgage balance depending upon the lender.”  [McAuley's World - This loan will qualify you to move to the front of the mortgage bailout line - a zero down loan - to people with bad credit - with  less than an "interest only payment due" until you default - What a mortgage! With this mortgage a Municipal Bus Driver making $35K a year can mortgage a Million Dollar Home at Taxpayer Expense - What a Country we live in! Free Million Dollar Homes Paid For By Your Neighbors Taxes!]

    BD Nationwide Mortgage Introduces the Second Mortgage that Requires NO Appraisal for Home Equity Loans to 125% and Refinancing Credit Lines - “According to Citibank executive, Jim Markham, “Having the ability to use the AVM model is a Win-Win scenario for mortgage brokers and homeowners across the country. Mortgage brokers can increase their second mortgage volumes and borrowing consumers benefit from reduced costs and quicker loan processing cycles.” [Why would Citi care as long as Taxpayers keep "recapitalizing" the mortgage losses through TARP. "Appraisals Are No Longer Needed For A "Mortgage Modification" at taxpayer expense - borrow as much as you want - you won't be paying it back anyway]. http://www.bdnationwidemortgage.com/zero-down-home-loan.html , http://www.prweb.com/releases/mortgage/loans/prweb470912.htm 

    LOAN BIZ

    100% Zero Down Finacing – 125% Zero Down Home Equity Loans – Interest Only and negative amortization loans available. http://www.loanbizinc.com/

    Hurry, it’s not to late to get in on the scam – purchase a larger home or refinance your current home now. Default before Memorial Day and get your “Mortgage Modification” and “Cram Down” by Labor Day weekend.

    Why settle for a house you can afford when your neighbors will pay for your upgrade?

     

    http://www.lendamerica.com/

    Don’t settle for second – go right to the top – http://www.acornhousing.org/TEXT/mortgage1.php - “Flexible credit guidelines and income requirements including the use of non-traditional income” – Yes, welfare payments and food stamps can be used as income qualifiers. ” We are very pleased with the level of commitment that CitiMortgage, First American and Fannie Mae are contributing to this effort”,  said Alton Bennett, President of ACORN Housing Corporation. Since its inception, AHC has provided free services to 250,000 households across the country, more than 80,000 of which have become homeowners, generating more than $10 billion in mortgages. [Stats as of December 2006] 

    With AHC you get:

    • Lower down payments and closing costs.
    • No Private Mortage Insurance.
    • Banks generally require 3 months of mortgage payments in the bank at settlement.
    • With our program, they don’t, which allows you to buy a home sooner.
    • Most banks won’t count public assistance or voluntarily child support in determining if you’ll qualify for a mortgage.
    • With our program, all steady income counts.

     

    Remember, it may actually help to under-report your income to ACORN to qualify for HUD Programs and subsidies. http://www.mortgageqna.com/federal-government-loans/hud-median-income-limits.html , http://www.huduser.org/datasets/il.html , https://www.efanniemae.com/sf/refmaterials/hudmedinc/index.jsp

     LET CONGRESS KNOW WHAT YOU THINK – http://www.usa.gov/Contact/Elected.shtml 

    Data from the Mortgage Bankers Association shows that a stunning 48 percent of homeowners who have subprime, adjustable-rate mortgages are behind on their payments or in foreclosure. An additional 30% of those who obtained subprime loans over the last 5 years have already defaulted on their mortgages and are not included in the above statistic. In total 78% of those with subprime loans have either defaulted, are currently in foreclosure or are at least 1 month behind in their mortgage payment.  http://news.yahoo.com/s/ap/20090305/ap_on_bi_ge/states_foreclosures

    It is impossible to determine how many of these mortgage holders are “withholding” their mortgage payments to avail themselves of the substantial cash bonus available from a mortgage “cram down”.

    5 Responses

    1. [...] Mortgage bailout scamming 101 Filed under: Links — Tags: bailout, corruption, credit, economy, lending, mortgage, scam, US — hpx83 @ 6:30 pm Whoa. This guy has the low-down of how people are going to use the new “mortgage-bailout”. [...]

    2. [...] Go to the author’s original blog: Get A 0% Down Sub-Prime Mortgage Now – Join The Scam – Default By … [...]

    3. [...] is the original: Get A 0% Down Sub-Prime Mortgage Now – Join The Scam – Default By … This entry was written by admin, posted on March 7, 2009 at 11:01 am, filed under Object and [...]

    4. [...] See the original post: Get A 0% Down Sub-Prime Mortgage Now – Join The Scam – Default By … [...]

    5. [...] news by mcauleysworld « Subprime Blogger / Home Mortgage Loans – Will Lower Rates Help … Canada's [...]

      From McAuley’s World: I certainly don’t endorse this organization – but can you believe it – SPAM to a blog critizing “zero down – subprime loans” from a zewro down subprime lender – you should see what I get in my email inbox – “borrow 120% of your homes value, zero down, no appraisal” …. when will this stop?

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