Real Estate Blog - Wachovia eliminates all Neg Am Loans

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Wachovia eliminates all Neg Am Loans

Breaking News!

If you have a NegAm loan with a Prepay - they'll waive it.
(does that mean only if they do the refi?)

I'll update more info as we get it!

(I used Seesmic to get the word out to those on Twitter almost instantly, in my haste I missed the "A" in WachoviA) LOL

From Calculated Risk and Yahoo AP

Posted by Mike Mueller on 06/30/2008 03:03 PM

Comments (7)

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Originally posted at: Mike Mueller, Social Media.ist: Wachovia eliminates all Neg Am Loans

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7 Comments on Wachovia eliminates all Neg Am Loans

JUN

2008

if that is a video, it's not working

Nancy - I'll bet it was because I was adding the links as you viewed - does it work now?

This is big news, and nice scoop Mike - haven't heard anything from my rep yet. It's a real shame, as you mentioned they've always done them the right way and their loans performed, and World was doing them before they were popular. I bet if Wachovia wasn't in charge, we'd still have them available. I imagine the higher-ups at Wachovia starting believing the hype and decided to pull the plug. Too bad...

PS. The video worked fine for me.