Mortgage Expert Dan ‘the mortgageman’ Foster explains the risks of Negative Amoritization Loans and why the 1% Interest Rate offers that fill your mailbox are not what they seem - BUYER BEWARE - Originally broadcast live on Good Day Sacramento
PAYDAY LENDING (The State) PAYDAY LENDING (The State)
The case for and against Efforts to tighten regulation of payday lending in S.C. failed in the Legislature this year. Proposed bills would have capped annual interest rates at 36 percent instead of the 391 percent lenders can collect. An amended version of the bill would have limited borrowers to one loan at a time, total loans per year at two and required a five-day wait between loans. …
It’s legal in America to rent a great credit score to use to get huge mortgages which are then sold to foreign suckers like European banks,Asian investors and pension plans world wide. FICO,US Regulators and Wall Street all know about the scam but don’t care because the risks are sold to foreign suckers and american pension plans.
Sources:
http://www.washingtonpost.com/wp-dyn/content/article/2007/06/03/AR2007060300561.html
http://news.search.yahoo.com/search/news;_ylt=A0WTTkofC2RGchcAtQPQtDMD;_ylu=X3oDMTBlM21mM3ZrBHNlYwNwYWdpbmF0aW9u?ei=UTF-8&_bcrumb=b650a83a57fe411a7f0904954310813e%2C1180961561&va=&va_vt=any&vp=Alipio+Estruch&vp_vt=any&vo=&vo_vt=any&ve=&ve_vt=any&datesort=&pub=&timeago=&smonth=5&sday=5&emonth=6&eday=4&source=&location=&fl=0&n=10&fr=&xargs=0&pstart=1&b=11
http://www.insidebayarea.com/trivalleyherald/ci_6056452
http://instantcreditbuilders.com/
http://www.examiner.com/a-761421~_Piggybacking__Roils_Credit_Industry.html
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