I was wondering what people thought about this company? I saw a commercial on television. Basically, they say that they can give you a $500,000 loan for $1300, or a $350,000 loan for something like $500 ( you get the idea).
Also, given the issue with subprime mortgages these days, this wasn’t the first commercial I’ve seen willing to help people get out of their ARMs.
$500k at 4% is $2,387.08 a month, tell me how in the world they cut $1k off the monthly payment or where you can even go as low as 4%? If it sounds too good to be true…it is. Probably just a gimmick to get you to do it then the payments will jump up soon after and you’ll be stuck holding the bag. It’s scams like that causing the foreclosure numbers to go skyhigh. Most people barely qualified for the low payment and couldn’t even come close to paying the adjusted payment.