Comments on: LOOK OUT!! Home Equity Line Suspensions Go Countrywide…City by City!

By: Mr. Mortgage’s Guide to the TRUTH! » Northern CA…From Subprime to Negative Equity Epicenter

Thu, 05 Jun 2008 18:28:31 +0000

[...] Look Out!! Home Equity Lines Suspensions… [...]

By: Dee P

Dee P — Wed, 04 Jun 2008 11:41:09 +0000

Three months ago my brother tried to buy a truck using his heloc on investment property in Las Vegas. He has a credit score of 840 and equity in the Vegas home, but received a letter from BOA, although Countrywide did the HELOC, telling him his HELOC was shut down. He had a$50,000 line of credit which was at a zero balance.

By: Mr. Mortgage’s Guide to the TRUTH! » US Auto-Makers Take it on the Chin

Wed, 04 Jun 2008 01:24:19 +0000

[...] Look Out!!! Home Equity Line Suspensions Go Countrywide…City by City [...]

By: John A

John A — Mon, 02 Jun 2008 18:37:07 +0000

My heloc was just suspended based on an “automated valuation” showing my home was worth less than I paid for it. When I contacted Nat City for a copy of this appraisal or the data that went into it, I was rebuffed. I have triple-A credit and the appraisal is off by a mile, even in this down market. Their only answer was that I could get an appraisal myself, but I had to use a specific appraisal company. When I contacted this company, they advised that they ONLY do appraisals for Nat City helocs and that it would $775 thank you. Outrageous.

By: admin

admin — Mon, 26 May 2008 15:32:37 +0000

there are several capwest’s. Capwest mortgage is owned by Farmers Bank & Trust, capwest securities, capwest partners in Canada. I just checked foreclosure records in CA and there is nothing.

By: Steven Barrett

Steven Barrett — Mon, 26 May 2008 04:58:55 +0000

Gentlemen, I’ve just received word from a friend that CapWest, a company she was contemplating on doing business with was also owned by Citibank, a company whose largest stock owner is a Saudi national. Is there any truth to this. I’m sure she’d be extremely interested in your findings.

Thanks

By: Mr. Mortgage’s Guide to the TRUTH! » SunTrust Stops All HELOC’s TODAY!! MUST CLOSE BY 5/19

Fri, 16 May 2008 16:54:23 +0000

[...] Home Equity Line Suspension Goes Countrywide, City By City [...]

By: Personal Bank Loan

Personal Bank Loan — Thu, 08 May 2008 14:02:29 +0000

Hi there,

By: Dick

Dick — Thu, 08 May 2008 02:00:15 +0000

In 10/2002 I was outbid on a house in an affluent community. The winning bidder bought it for $425k and was a board housewife who thought buying real estate and renting it was the way to finance her kid’s college education in 14 years. After 6 years of renting, she is now deeply in the red and she doesn’t even realize it.

The rental income never fully covered the mortgage, insurance, property tax, maintenance expense, vacancy, remodel, rental broker’s commission among other items. The current market value is about $466k and she is lucky if she can even get that since the market is declining. After a 4% broker’s commission, she will net $449k earning a $24k profit. According to my calculations she easily has paid out over $1,000/mo. over 6 years in (deficit) expenses or $72,000. Net net a total of a $48,000 LOSS. I tried to buy the property from her. She says she doesn’t want to sell and is insistent the market will come back.

When you hear stuff like this you know the market will never come back for year sand years. It will take 15 years to get back to any high water mark again.

When your housewife comes up with ideas like this you know it is the top of the market!!!!!!

By: AndyJ

AndyJ — Wed, 07 May 2008 19:27:42 +0000

MR MORTGAGE!!

The time is RIPE for a Reality-Slam on the GSEs, dont you think?!!!

I am getting madder by the day, when I realize how they are just being loaded up with every garbage loan on the planet, and OF COURSE they will be set up to fail. It is so obvious what the FED is trying to do here, and more people need to understand how BAD the current situation is!!

Thanks for considering the idea!