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Lending mania in full force.
As Gary said, he is worried about the raft of 125% LTV loans out there, well
here is an
example of one I gotted spammed with for 130%LTV.
When the avalanche starts, the defaults will surpass the S&L fiasco in god
speed.
Keep some powder dry, the bargains and desperation sales will be everywhere.
JT
----- Original Message -----
From: <a_z3859617@xxxxxxxxx>
Sent: Thursday, June 22, 2000 5:10 PM
Subject: Loans Up to 130% of Home's Value
> For Homeowners Only
>
> Save Now!
>
> Are you in debt? Need extra cash? We can get you the loan you need.
> Regardless of whether you have good or bad credit, we can help you.
>
> We specialize in First and Second Mortgages, including loans that other
> lenders turn down. Funding borrowers with less than perfect credit is our
> specialty. We have loan programs that are unheard of.
>
> Our loan programs can get you the cash you need for:
>
> Debt Consolidation Needs
> Home Improvements
> Dream Vacations
> New Car
> College Tuition
> ..and much, much more.
>
> Incredibly low monthly payments Loans if you have hard to prove
> (Self-Employed) income Loans if you have collections, foreclosures,
> BKs or tax debts Loans if you're behind on your mortgage Loans up
> to 130% of your home's value
>
> Fill out the fax application below for fastest service. You will receive
> immediate attention to lower your payments, help you get the cash
> you need or consolidate your debts. We can get you the kind of
> loan you are looking for.
>
> Whether your credit is good or bad, if you are serious about
> improving your lifestyle and need a loan for any reason, contact us
> now because we can get you the cash you need. We make the
> loans that other lenders turn down.
>
> This form must be completely filled out. Please enter NA in those
> fields which do not apply.
>
> FAX TO:(509) 463-0799
>
> Applicant First and Last Name: _______________________________
>
> Co-Applicant First and Last Name: _______________________________
>
> Address: __________________________________________________
>
> City, State: __________________________________
>
> Zip Code: _______________
>
> Home Phone: ______________________
>
> Work Phone: _____________________
>
> Property Type: Single Family Residence
>
> Purchase Price: ____________________________
>
> Year Property was Acquired: _________________
>
> Present Value of Property: ___________________
>
> Amount Owed on 1st Mortgage: _________________
>
> Current Interest Rate on 1st: ___________________
>
> Fixed or Adjustable? ______________
>
> Monthly Payment: ________________________
>
> Second Mortgage Balance (if any): _____________________
>
> Current Employer: ___________________________________
>
> Years with Current Employer: _________________________
>
> Yearly Income: __________________________
>
> How would you describe your credit? Excellent/Good/Fair/Poor
>
> Best Time to Contact You: ____________________________
>
> Type of Loan Desired: ________________________________
>
> Loan Amount Desired: _____________________
>
> Email Address: ______________________________________
>
>
> OFFICE USE: INT00002
>
>
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