MR MORTGAGE - BIG BANKS HOME EQUITY EXPOSURE REVEALED 4/4/8

[cami2angel]

Very helpful. I have a friend who is looking into HELOC right now and I helped my parents do one just a few years ago. Not with this bank though.

[54spiritedwill54]

excellent video

[NoticeOfDefault]

Currently in the US forecloses are at a high.

So much the Banks are overwhelmed and they are now bowing willing to renegotiate loans to curb foreclosure.

They are not even considering your FICO because they already know the financial issues most Americans are experiencing.

Keep your home get the facts act before your insolvent.

[HowardsViews]

It's all tied in with the credit cards, and what I predicted years ago. As an owner of a small business, when they revved up the Air Miles (the bribe) and began stealing (extorting) my profits, it was pre-ordained that this would come about. Like the junk bonds before them, there comes a day of reckoning. Judgment Day. You're brighter than me, more succinct in stating it.

Big Banks are ruthless, Mafia families, and both borrowers and others who do business with them get shafted.

Thanks.

[KARStarla]

Oh I forgot to ask, if I'm paying 5.25% on my original mortgage of $150,000 and now my balance is $122,000 when my VA adjustable loan goes up, whats it go up to? I was under the impression it might go up 1% point a year and so (in my thinking) I thought I might need to pay 6% on my current balance of $122,000 which is doable for me, am I wrong? Is there something I dont understand about these loans? Whats my worst case here?

Scared, can you help?

[KARStarla]

Am I screwed? I'm a Veteran and was given a 5.25% VA loan and I'm at the 5 year period where it can adjust. The house we bought was $155,000 our balance is $122,000 and it was appraised at $204,000 we have excellent credit (never paid nothing late, no debt etc) but got turned down only because my house was not "comparable" to houses in my neighborhood... whats that about? I got turned down from my own mortgage company who is financing me already. Is there another reason?

[indianrepublican]

I don't necessarily advocate drawing down one's HELOC like you state. However you do make some excellent points in this video and others you've posted. God Bless.

[moneymagnetelizabeth]

I own my home for retirement, and if you do not do equity then the banks bleed you through property taxes. Your community is borrowing from the banks - and the banks are involved with the insurance industry and making policies that are not affordable and do not cover minimal. If you want coverage then they try to sell you an umbrella. WHERE IS CONGRESS - SHUT THESE BLOOD SUCKUNG THIEVES DOWN!!!!!!!!!!!!!!!!!!!!!!!!!!­!!

[vladimir4055]

Thank you.

[robertf97]

The banks don't need to sell or write down HELOCS they just wait for you to pay them at full value. If you don't you get to declare bankruptcy, you don't get to buy it back for "$.30" on the dollar.

[john67elco]

My favorite mortgage guy 100%.

[mrbadde1]

Mark.. Oh how we missed ya!

[largo2001]

*** Mr. Mortgages for President ***

[111harley111]

Great stuff.

Please do a video on short sells. Thank you!

[openuniverse2003]

Property will "hit bottom in 3 years" in America? Look at prices to stabilize by 2009, certain parts of the country are NOT seeing "a bubble bursting". California, Florida have been hit, etc., but a lot of flyover states have seen less than 10% drops.

[Benaiahh]

Hey Markmti. Instead of showing us the link in your video, or telling us the address, just put it in your video description over there  -------------------->>

[green1gecko]

Just out of curiosity... where in the world did you find that higher yielding account? (Your financial maneuvering is crazy without it.)

[wcoeqpk862]

telling you your a boss. im sure your short LEH with me (also short MER) and i should most likely be short every financial i can find but im not. keep these vids coming, gave you a 5 like you asked for (and deserved for that matter). rock on with your bad self

[PotSmokinFoo]

In California, these HELOCs are recourse loans. It's an albatross even if you "walk away."

Good luck paying off your HELOC with no home equity growth and a job that leaves you broke just before payday.

BTW...Fitch blows. They're just trying to cover their asses so people will forget their role in this build up. Nice job with the ratings, dudes. You figured out MBIA in early April. Nobody saw THAT coming.

[louminatti]

"In California, these HELOCs are recourse loans."

Yep! No walking away from it. For some weird reason people don't consider this little sticking point.

[markmti]

just remember everyone, the investment banks in their blood-thirst for yield started all this...the fathers of the bubble are Lehman ans Bear.

[PotSmokinFoo]

And Greenspan. We can debate whether holding rates that low that long contributed X or Y, but Greenspan's advice to consumers to take ARMs was nothing more than a risk transfer away from his banker buddies to the homeowner.

[idahotandj]

We never did a heloc either but that doesn't mean were not going to get screwed just like the everyone else because of all of these foreclosures.

The banksters greed in all of this was a virus that infected millions, and now the rest of us have been exposed.

What legitiment equity we have built is now sucked away.

[FrankenBeenz]

Mr Mortgage: an internet legend in the making. More sermons as they come to you, please.

[louminatti]

I don't have a HELOC. Only a retard would take out a HELOC except for emergency, like having to replace the roof. "Extracting equity" is bullshit.

[amanderik]

Obviously, given the amount of outstanding HELOCs there must be quite a few "retards" out there. I wouldn't blame Mr. Mortgage as the messenger here, although I agree it is foolish to use these as an ATM. But it is what it is.

[AtomicGayDar]

6.4 on the AtomicGayDar for MR. MO-RTGAGE. Excellent video. We all love you MR. MO!

[tyronebiggums3]

I like to say, "People were living high on the HELOC." I have a lot of posts at my blog about these home ATM users. MWAHAHAHA

[Westenhizzel]

Tell me more brother. Thanks

[33deagle]

excellent video

[RajSinghTube]

Nice job

[7bb7b]

You Go Mr. Mortgage!!!

It's so refreshing to hear some truth about the HELOC's and the big Bang Theory!

You are the best!!!

No more CNBC--Maria, Erin and Gas-bag--

EAT YOUR HEART OUT__THIS GUY IS HOT!!!!!

[FogHat999]

Mr. Mortgage, you rock the house!

[meekbrea]

Mr Mortgage you are a breath of fresh air. Its nice to get a expert opinion on what is

going on.

Thanks keep up the great work !

[makoshark123456]

thank you for this.  incredible, isn't it?

[kewaydin]

Right on Mr. Mortgage hedge.

[neanderpaul123]

Awesome stuff, dude!

Banks are going down, hard!

[knezzie]

Thanks for pointing out the risks to our financial system that the mainstream won't discuss.

[markmti]

UP.

[plizak]

Word Hombré