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hurting mortgage market: Borrower Feels Injured By a Subprime Mortgage! Naive or Careless! - 01/28/09 10:55 PM
One evening last week, I answered my cell phone and heard from a desperate lady. I, as an appraiser in Missouri, was asked for advise on this woman's overall mortgage condition. She found my website and ActiveRain Profile on Google. Her house was on the other end of the state, well outside my St Louis Metro Area, however I listened to her problem.
A licensed/certified appraiser in Missouri valued her home at $96,000 two years ago. She took out a cash out refinance mortgage on an adjustable rate mortgage. Her mortgage person told her the rate would adjust in two years, however she could … (7 comments)

hurting mortgage market: It Appears to be Difficult to Prosecute Those Who Have Hurt the Real Estate Industry. - 06/06/08 11:44 AM
I read story after story of banks and mortgage companies taking hard losses with excessive mortgage foreclosures. Many reports state that most of the foreclosured homes were not owner occupied, they were some sort of investment properties.
Such persons who borrowed money while knowing they really could not make payments after ARM's reset, I have little simpathy for. I do have simpathy for owner occupant victims, however these investors should have understand their risk and have hurt the entire country by causing investors to tighten their belts.
We punished Enron executives. If current laws are not strong enough to punish credit … (0 comments)

 

James Graner

Saint Charles, MO

More about me…

Residential Services: http://appraisalmo.com

Address: 1245 Cunningham Ave, St Charles, MO, 63301

Office Phone: (636) 916-4325

Cell Phone: (314) 277-3336

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Things that I like to write about! This might include general real estate matters, sports, politics, mortgage business, or real estate appraisal.


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