Replies to post #303048 on Zeev's Turnips Patch-No Politics (ZEEV)

[Burk]

I decided not to state the obvious. "Makes no sense most of the time by the way"....

;)

[marketmaven]

CFC Criminality- here,take a $1m floater, interest only 'loan'

From: [e-mail]
Date: 2004/09/28 Tue PM 02:54:43 EDT
To: xoxo
CC: coc.com, coc.com
Subject: Purchase worksheet & approval letter

xxx,

Thank you for allowing my team and me to assist with your mortgage financing. From experience I can assure you that we will serve you in a way that allows this process to proceed as smoothly and effortlessly as possible for you. We will work along side of Personal to see you are well taken care of. Purchasing a home is probably the biggest financial decision you will make. Because of this, I have always felt that the structuring of a mortgage should fit around your short and long-term financial goals. The program I have worked up fits your financial picture and will work great for you!

MY RECOMMENDATION: I gave you a couple options of which I like the Libor loan. This loan is best for cash flow and overal flexibility. The margin is only 2% which means your rate will be Libor + 2% (currently 3.75). This will stay below fixed rates for a long time.

** So, my preference for you, is the 1 mo Libor with interest only payment options. It is the best loan out there in terms of cashflow and control of your payment.

1. The Index & Margin: The true interest rate for all ARMs (Adjustable Rate
Mortgages) are figured by adding together an Index to a Margin. Index + Margin = Interest Rate. The more stable the index, the more stable the rate. The lower the margin, the better the rate. The Index - is the LIBOR. Technically, the Libor is the interest rate offered by a specific group of London banks for U.S. dollar deposits of a stated maturity. The margin on this loan is extremely low which will help keep your interest rate low. This index has worked super for me for the past 10 years.

2. Payment Options: This loan is extremely flexible and, pardon the expression, the cheapest loan on the market. You have an interest only payment option that will continue for up to 15 years. Any extra $$ you put in the payment goes directly to principal reduction! Having this option puts you you in control of your loan. You will have the option of:

Option 1: Interest Only Payment. Each month you have the option each month to pay back the loan interest only. I recommend this option as it gives you the most cash flow and avoids creating "dead equity" in your home. Note that the home equity you have is earning you ZERO percent. I see other ways to invest those extra dollars.

Option 2: 30-Year Full Principal and Interest Payment. Every month, you may add extra to fully amortize your loan. This "fully amortized" payment calculated each month based on the movement of the Index, loan balance and remaining loan term.

Option 3: Add extra to pay off in 15 years or sooner. If this floats your boat, then have at it! You have the option each month to pay on the 15 year amortized payment. You may even pay it off faster. There is no pre-payment penalty for this loan.

I have attached the Excel worksheet that illustrates the option I recommend. If you do not have Excel you can download an Excel viewer at this site: http://office.microsoft.com/

I have also attached your approval letter for $1,000,000.00.

The next step now is for us to discuss this program via email or by phone so you are comfortable with it. Then I'll need you to provide me with any asset documentation (listed below) that I may don't have as of yet so that I can review. This will help mitigate any potential problems in the future. Then, all is left is for you to find a home!

Here is the standardized list of what is necessary to process a purchase
loan:

* Ratified Sales Agreement
* Most recent 2 months worth of bank statements.
* Most recent statement for all mutual fund and investment accounts.
* Signed purchase worksheet (attached).
* Recent mortgage statement for each property already owned.
* Hud1 from the sale of the Boston Residence.

You may fax the above to me directly at 703-991-xxxx.

By the way, I would like to get a chance to meet with you in the near future. If you plan on coming to or find yourself in my area, I'd love to buy you lunch. This would be a good time to ask me questions about anything you?d like. Please call my office and schedule this with xxx Thanks!

v/r
xoxox
p.s. Please don't forget that my business is based 100% on referrals from my clients. If you feel that I've done a commendable job for you, please keep on the lookout for people who are looking at purchasing, refinancing or debt consolidation. New loan inquiries can complete a quick questionnaire on my website at: www.com

__________________________
XOXO
Sales Manager
--- Team
Countrywide Home Loans

703-227-xxxx Direct
703-991-xxxx Secure Fax
703-928-xxxx Mobile

[nomoweed]

I gotta hear this...why?

[nomoweed]

in stereo,to boot.

[lee kramer]

Parick Batman: I an shocked, I am distressed. You have just sent me into "crisis" and I'm off to see my shrink, crazy doc Kronkite and his lovely Miss Tushbumper, she of the pouty ta-ta's. Ok, so I'm a pig. Perhaps when tou get a bit older or have a pre-frontal lobotomy, "It's as Wonderful Life" may make some sense...and make you a bit misty around the eyes. Is does me.

[Alex G]

>>The movie It's a Wonderful Life makes no sense<<

patrick bateman . . . let's all hope that you're not a postal employee,, because obviously you are very "disgruntled" with your life...

i'm thinking BM had a good point, when he said you should seek some help

please... if you ever really go off the deep end, don't take any innocents with you, just bow out gracefully