Mortgage Broker or Assassin? A Banker Who Offers You This Loan May be Trying to Kill You!

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Mortgage Broker or Assassin? A Banker Who Offers You This Loan May be Trying to Kill You!
(presented by www.refinance-refinance.net - mortgage lenders)

By Mark Barnes

What if a banker or mortgage broker told you he’s loan you 25 percent above the value of your home? You might think it sounds great, but I sure hope you’d say no. This is a loan only the most money-hungry and unscrupulous loan officers will sell. Few, if any, banks will do them. There are wholesale lenders, though, who will actually loan 125% of the value of your home.

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In other words, if your home is valued at $100,000 and you want to take as much cash as possible, these lenders will actually loan you $125,000. Obviously, this type of loan is for people who are desperate to get cash, usually to pay off high credit cards or other bills. Although it might look attractive, it’s actully a Death Loan.

So, why do I call it

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This entry was posted on Wednesday, May 17th, 2006 at 5:48 am and is filed under Refinance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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