Comments on: Understanding Jumbo Mortgages

By: buad0118

buad0118 — Sat, 11 Jul 2009 21:58:25 +0000

When a senior lien forecloses, a junior lien is wiped out.

So if the first mortgage holder forecloses, the second trust deed goes away. If the second forecloses, you'll still owe the first.

Oftentimes, if a senior lien forecloses, the junior lien holder will send a representative to the auction to defend its interests by making sure the property goes for enough to pay the junior lien as well. Or they buy it themselves with the idea of reselling. Costs money, yes. But better than losing their whole investment.

By: NoShackles

NoShackles — Thu, 09 Jul 2009 10:20:50 +0000

Asmus reminds me of a Lutheran “preacher” – he has nothing to say.

By: fluff125

fluff125 — Thu, 09 Jul 2009 09:50:09 +0000

Are you spamming this comment? Well prepare to get called on your crap, I’m marking this as SPAM!!!!

By: Iñigo

Iñigo — Thu, 09 Jul 2009 04:02:20 +0000

read on…
http://myfinancetimes.com/2008/05/24/subprime-mortgage-creditcrisis/

The above article elucidates you on the actual subprime mortgage crisis in us. and the persons behind the mortgage fraud and all those who are to be directly blamed for this financial catastrophe.

By: bjm_116

bjm_116 — Thu, 09 Jul 2009 03:42:32 +0000

depends on your interest rate

lets say you did a 30 year 5% fixed

1825.19 would be your monthly

http://public.propertylinx.com/custom/templates/mortgage_calculator.asp?price=350000

here's a calculator.. toss around your own numbers.