InvestorsHub Logo
Followers 170
Posts 18197
Boards Moderated 2
Alias Born 11/29/2010

Re: Gothvanhellsing post# 78912

Monday, 11/11/2013 5:56:34 PM

Monday, November 11, 2013 5:56:34 PM

Post# of 187251
What this tells me is that Ortiz --the guy everyone is trusting to act as financial fiduciary with their investments-- apparently chose to refinance his home/corporate headquarters with Litton Loan ...one of the worst sub-prime lenders in the country.

Definition of 'Subprime Mortgage'

A type of mortgage that is normally made out to borrowers with lower credit ratings [typically below 600]. As a result of the borrower's lowered credit rating, a conventional mortgage is not offered because the lender views the borrower as having a larger-than-average risk of defaulting on the loan. Lending institutions often charge interest on subprime mortgages at a rate that is higher than a conventional mortgage in order to compensate themselves for carrying more risk.

Do I have evidence that Ortiz has a lousy credit score? No. But by his own admission he had fallen way behind and couldn't make his mortgage payments. So how is that any lender's fault?

Again, IMO this is relevant because (1) this is the official corporate address of several companies and (2) because Ortiz claimed great business success during the time his home was being foreclosed on.

We're entitled to our own opinions --but not our own facts.