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胡公說得對﹐情境有異﹐大不如小﹐總統不如市長﹖中國不如中共﹖怪胎﹗
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曾太公
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引用文章在某些語境,「中國」可以是「中國政府」的簡稱

My dear fellow agents,

Who says California have budget problems?  California Cities have no financial pressure at all.  At least, they are in a better position than Mr. Mozilo, former CEO of Countrywide.  They are even greater or more generous than Presidents Geroge Bush or Benanke to provide us a Santa Mozilo Loan.

With this kind of city programs, you can afford to buy a home up to $300,000 or more, with your one percent down payment.   You can get up to 99 percent loan for your purchase.  It is so great, isn't it?  Maybe, you will say, "No, VA has zero down program" or "DOA has the same zero down program in remote country area."  Gee, you are not so easy to be pleased!

Okay, I got it.  Let's move on!  You didn't see the best part of it yet.  Not like those two stingy Mr. B who want you to pay back their tax credit of $7,500 and like to bite a big slice of your "future profit" through their "profit sharing" project by the so-called "Congress Rescue Bill." those Californian cities don't charge you interest or ask monthly payments.   Compared to those two year no interest programs provided by furniture stores or 7 year no interest program from automakers, is it good enough to please you? 

Wow, wait.  Things even get much better!  If you own (live in?) the house for 15 years, Guess what will happen?  Your 2nd loan of $150,000 provided by the city will be forgiven.  Yes, it will be totally "wiped out" (Note: don't be scared when you hear these two words. The situation is working for you, not like Indymac's stockholders being wiped out or the possible GSEs wipe out.)  Literally, that means the city will give you $10,000 every year.  At the end of 15 years, you don't owe nothing to the city.  You own your property "free and clear," except the unpaid balance of the first loan of $150,000.   

Am I kidding?   No, I am not.  "Read my lips" and verify it at the following attachments (Note: It contains 8 page, I just post the most important part.).  It is a decent business.  No trick or fine prints hidden like Alt-A loans, Option loans or any negative amortization loan. 

So, hurry to get on board.  Common, it is hot.  But it is just new and hot out of oven. Don't look it as a hot potato.  Find out if your city has this Santa Mozilo program as an early bird before time is changed or fund is crunched as subprime loans did. (Note: don't be lazy by just clicking on your city website.  Go out and talk to somebody.  You probably can't find it as I can't find it at the city website.  Please don't tell me we have the most transparent system in the world.) 

 

 

 

 

 


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情境﹗情境﹗都是您弄皺一池春水﹐害死人喔﹗
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曾太公
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引用文章事實根據和理論基礎 -- 公共論述的要件

3 Comments on Santa-Mozilo Loans to Beat Up Mozilo & Geroge Bush

I would certainly love to see how someone can get $ 150,000.00 to buy a $ 300,000.00 house with a 1% down payment.   It has now been over a week and no answer... don't keep us in suspense, if it can be done let us know so we can pass it on to our clients...

where did you find the 8 page pdf??  I would like a copy of it.. and what cities are you aware of that have this program?

 

08/25/2008 08:03 PMby Thomas H******es (T****work Financial Services) Delete Report as Spam


 

Dear Thomas:

For the first question, I live in Texas.  I got it from a Californian banker who has his handwriting on it as the document shows.  You're in Oregon, I am not sure he will work with you so far away from him, since there is something called "community re-investment" requirement set by our banking authorities.

Certainly, no banker is interested in granting the 1st loan if he or she plans to sell the loan to GSEs, even the LTV is a great deal.  In the reality of real estate business, who will expect a better LTV higher than that, as an investor or banker (it is just 50%)?  But, it is not purely in the context of real estate hardware or business.  Certain other factors have to be taken into account as it is also in a banking or financial "software" territory by itself, or in our economic or political system such as government intervention or entitlement as a whole. 

You may have to go out and check with a small regional (local) banker who does intend to hold the loan as a portfolio loan.  Or you may have to check with your local city councilman.  Remember there is a saying, "In some situations, who you know is more vital to your success than what you know."

For the 2nd one, have you tried to understand why I intentionally omitted to mention any name of a city in my article?  I am a incurable naturalist who would like to sit on sideline to watch the funny things happen.   I have never taken an action to get involved with a nature cause of a situation, if there is nothing in it for me or for my morality to better the world. 

I am thinking if it is possible for me to email you the 8-page document.  I don't have an answer yet.

08/27/2008 01:35 PMby ET      EditDelete



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