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Author Topic: 100% financing  (Read 15972 times)

Offline REI4ROI

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Re: 100% financing
« Reply #30 on: June 08, 2007, 04:26:44 am »
You know she was spoken to and mostly likely reprimanded (esp. if she works in a boiler room op)...

I don't know that gal, but I can ascertain that she was either confused or new---either way and IMHO, it was overkill to call her boss...(we could have squashed this within these walls...she might now be subjected to "consequences not befitting the crime")

I'm not trying to be argumentative but there is an established chain of command in this forum and I would hope that if I should ever misquote/misfire, etc., that the moderators will bring it to my attention...We have enough lender moderators in this forum, filtering for this type of stuff is not out of the realm...

Busting chops on the forum is one thing---potentially affecting somebody's income is another...

I truly hope nothing life changing came of this MsClosedLoans...

Regards,

Scott Miller
RE Investment Advisor
Weichert Realtors
[email protected]

Offline Investment Loans

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Re: 100% financing
« Reply #31 on: June 08, 2007, 09:41:30 am »
Thanks for your opinion Scott and I dont take it as arguementative.   I thought on it all day about the actions to take and it clearly was the best thing to do.  IMHO this would have never resolved itself here on the board.  Moderators cant take action against something they are not sure on and the subject was sure to surface again from the interest of future investors inquiring.

You cant compare her interatction with the forum with that of what yourself or any other seasoned vetran would have done.  I'd think that most mortgage professionals that misquoted/misfired would have double checked their resources immediately after being questioned by several others.  That apparently wasnt the case and I dont believe anyone would have enlightened her.

There was more at stake than just the events that "happen within these walls".   You know the consequences 1 bad real estate transaction can create.   Investor loses earnest money, seller doesnt get the proceeds for the sale of the home thus they cant buy a potential new property which means another seller doesnt profit; agents involved dont get a commission, mortgage companies get backed up with work they should have never had, our industry continues to get a bad repuation, and so on and so on.  More than 1 person's income was being jeopordized.  The interest of the investors on this board and our industry come first.  That's all I have to say on this.

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Offline sammy

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Re: 100% financing
« Reply #32 on: June 11, 2007, 07:48:34 am »
Why don't you all get off someone elses case for a mistake, which is why this thing is here,.....for learning.....and look at yourselves.

It appears from my own work a 100% is possible if you are self employed and have the finance statements to back it, you really dont need credit to do anything when you have the right financial statements and forms in place. Is it possible without it? That may be a bit hard but nothing is impossible, if you think it is then to you it will be.

Offline christopher w

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Re: 100% financing
« Reply #33 on: June 11, 2007, 09:08:44 am »
Sammy,

I don't believe that the power of positive thinking works when it comes to loan programs. Perhaps you would point us in the direction of where you are getting your 100% LTV NOO loans without using credit.
Christopher W
C-214.923.5781

Offline REI4ROI

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Re: 100% financing
« Reply #34 on: June 11, 2007, 09:28:03 am »
Now that's funny---I was just the Nightangale Conant website looking for Napeolan Hill's new course, "Think and Grow 100% Financing"...

But then again, it might not be funny because I guess I'm negative...

Regards,

Scott Miller
Sammy,

I don't believe that the power of positive thinking works when it comes to loan programs. Perhaps you would point us in the direction of where you are getting your 100% LTV NOO loans without using credit.
RE Investment Advisor
Weichert Realtors
[email protected]

Offline Rich_in_CT

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Re: 100% financing
« Reply #35 on: June 11, 2007, 09:42:05 am »
I'm going to let this one die right here.   :grim

Offline christopher w

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Re: 100% financing
« Reply #36 on: June 11, 2007, 10:02:39 am »
c'mon Rich give us one more day of fun. Keith gets to have all the fun with the Nouveau Richies...
Christopher W
C-214.923.5781

Offline Rich_in_CT

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Re: 100% financing
« Reply #37 on: June 11, 2007, 10:05:45 am »
c'mon Rich give us one more day of fun. Keith gets to have all the fun with the Nouveau Richies...
Well everyone has laid out their thoughts on 100% financing, the poster that was wrong was reprimanded here and probably by her boss so let's not drag it out anymore.  NR folks deserve the torture. :beer

Offline christopher w

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Re: 100% financing
« Reply #38 on: June 11, 2007, 10:40:10 am »
Very true. Okay kill it.
Christopher W
C-214.923.5781

 




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