No joke, I got a solicitation in the mail today from Countrywide for some sort of mortgage product.
WTF?
And although I didn't think I needed a mortgage, I really want this product.
That second line was a humor attempt.
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Random Roger
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15 comments:
As late as August 2nd they were advertising on the Yahoo Finance page - LOL!
http://i10.photobucket.com/albums/a122/Strike_Hold/countrywide-yahoo.jpg
as of Friday they were still advertising on CNBC...
Maria noted the bizzare situation several times last week.
Rog baby,
you aren't the sharpest tool in the shed, buy surely you realize that most direct mail campaigns are planned an executed months in advance...
I've got a CFC mortgage 15yr at 5.5%.
What would happen to my mortgage if they went under?
Does anyone have any suggestions as to how I can take a 10.125% HELOC and get a better rate without having to pay some silly closing cost fee?
I doubt CFC still holds your mortgage. But, if they did not sell it to someone else and they go under, someone will buy it from them at some sort of discount and so your payments will make your way to whoever that is without effecting you at all, other than possible making the check out to someone else.
Great blog. I have recently started my own blog for new investors and will include your as a great resource!
http://investorlearning.blogspot.com/
Andy
If you have a CFC primary mortgage try contacting them for a HELOC. Since they already have the dope on you they may give you a better deal on the miscellaneous rigamarole associated with a HELOC than somebody for whom you are a new customer. I got a HELOC from CFC in this manner a couple of years ago and it was the best deal, all things considered, that I could find at the time. Now, though, as I am close to paying off my primary they keep sending to me unsolicited offers of no cost expansions of my HELOC!
"Does anyone have any suggestions as to how I can take a 10.125% HELOC and get a better rate without having to pay some silly closing cost fee?"
BofA has a no fee HELOC for your O.O. home at .76 under prime!
This is off topic but has anyone
seen the chart on Bespoke...
scroll down to FED FUNDS TARGET
RATE VS 3-MONTH TREASURIES...?
Roger:
This is off subject but given your interest in Iceland this YouTube snippet might be of some entertainment value.
http://www.galatime.com/2007/08/21/people-power-money-geyser/
JD
Sir John Templeton had the right idea for every primary residence he purchased: Pay in cash.
Rental real estate and larger real estate complexes are a different story. But never fall prey to nothing down.
One study a few years ago concluded that the optimum mortgage, if you must, was a fixed rate at twelve years. I can't quarrel with that if you can find one.
Roger the letter was from Warren
Buffett...he's going to buy
CFC and then he's going to pay
off everyone's mortgage....he's
been reading your blogg so he's
making you an offer you can't
refuse;-)
I just read "the bath water will
be saved but the baby is going
down the drain" LOL
FWIW
The post by Anon:5:55 (Andy), is not the same Andy as me....damn...its beginning to sound like Mayberry around here
that's ok as long as I am not Ernest T Bass.
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