Home Loans

Mortgage Expert Dan ‘the mortgageman’ Foster explains the risks of Negative Amoritization Loans and why the 1% Interest Rate offers that fill your mailbox are not what they seem – BUYER BEWARE – Originally broadcast live on Good Day Sacramento

Duration : 0:6:22

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11 Responses

1. cjjorgensen Says:
   July 29th, 2010 at 3:38 am

   I am a traveling …
   I am a traveling notary and I saw hundreds ot these. It is a crime for me to give my advice or opinions becuase I am not an attnory, so I had to keep my mouth shut. But what I was was people who got themselves maxed out in debt with big cars, and mall credit cards, then got a neg am loan to cover it. Pay cash and don’t live beyond your means, and you won’t need a neg am loan.

2. MacPercuss777 Says:
   July 29th, 2010 at 3:38 am

   Thanks for posting …
   Thanks for posting this. I learned something.

3. ApollosWorld1 Says:
   July 29th, 2010 at 3:38 am

   Hey Dan. Youd did …
   Hey Dan. Youd did good.
   I knew you from Great American Mortgage.
   I was your rep from MILA.

4. george4title Says:
   July 29th, 2010 at 3:38 am

   Thanks
   Thanks

5. mikeeor Says:
   July 29th, 2010 at 3:38 am

   Man are you way off …
   Man are you way off. I don’t believe any one particular loan is appropriate for everyone. Need to explain better what amortization is. What about time value of money, leverage cash flow. I agree, these loans are really bad for most. All the same, nice work.

6. khanzh Says:
   July 29th, 2010 at 3:38 am

   want dan the man to …
   want dan the man to get on youtube on a regular basis, we want more info!!!!!!!11

7. seanmg Says:
   July 29th, 2010 at 3:38 am

   I used to work at a …
   I used to work at a mtg co. and I never offered these types of options. Fastest way to owe more than your home is worth short of just getting a 110% LTV loan.

8. artistknownasbeavis Says:
   July 29th, 2010 at 3:38 am

   Yea but Dan didn’t …
   Yea but Dan didn’t tell you the rate is higher without a prepayment penalty. Some states have pre-pays and some don’t but if you can’t get the “A” loan then your rate might be higher WITHOUT a prepay.

9. artistknownasbeavis Says:
   July 29th, 2010 at 3:38 am

   It has a place for …
   It has a place for investors – some investors want the lower payment as they are going to sell in 1 year so it has a purpose in some instances.

10. mortgagenewyork Says:
    July 29th, 2010 at 3:38 am

    Excellent …
    Excellent explanation. Deal with real mortgage professionals, not scammers.

11. 2ndvariety Says:
    July 29th, 2010 at 3:38 am

    Great video, keep …
    Great video, keep it up man!

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