Re: variable mortgage rate scam in the Hmong community?



Lonewriter,

this is very simple answer and i heard lots about mortgage and realtor
agents from your state to my state, it was like those pryrimid scam
marketing. they can cheat those who do not understand the balloom
rates and fix rates. therefore, hmong families were so happy to find
them as a suitable agent to give them the freedom to pay very low
interested, but they dont know that a balloom rates will go up and down
varying with the economic. but keep in mind, there is a cap upward or
downward movement of the interested.

i'm feeling sorry to those who did not know and got scam by these new
so call pryrimid mortgage and realtor agents.

B2BH

Thornspear@xxxxxxxxx wrote:
Cov yawg, nej sim cia yog tus daj hau ua rau saib mas tus Hmoob puas
nroo ib suab ne. Kuv pom mas yog tus daj hais thiab ua lawm ces txawm
phem npaum twg los yeej nhya nhya quaj kua muag ntws sis tsis kam tsa
ncauj hais ib suab li, tiam sis yog tus Hmoob mas ua ntuj liab teb
ntsuab cuag nplaim taws twb cig nto ntuj. Nej cov hluas twb tias "Hmoob
ces khav nruab chaw do" xwb no ne. Peb cov farmer no mas haj yam paub
Hmoob lub qe zoo heev, yog yuav piav mas muaj piav os.

Tsujsua Dluag wrote:
xej

i definitely agree with you on that...thaum xav tau ces....hais tias
"seb koj yuav pab li cas thiaj tau.."

thaum nyuaj siab them tsi tau ces..hais tias "kuv tsi nkag siab cas
nws ho zoo li no..."

here is true case which involve me.:

after yaweh explains what negative amortization is regarding
the option arm payment...it takes 5 minutes for the borrower to forget
what negative amor is..., i explained 5 times the disadvantage
of the "min pay (option arm)" to his clients....and they still say
"how come that guy over there pays only 1% aand its fixed for 30 years".
at the end, the borrower thought i cheated him...and that if its 1%,
then
why is there negative amor...because he believed
there is such a thing as 30 year fix for 1% interest (and i personally
dont' care where he got his infor from...)

well, after this client ditched me...and finally went with another loan
officer
which happened to be an white guy...he "promised (i don't think he
promised...this client couldnt' udnerstand what the difference between
the
min interest rate vs. the true interest rate)"
that client thought that he would only pay 1% for 30 years....

i'm glad that after 12 months of paying...this client end up owing
about 9k in neg amor...which automatically adds to his principal cuz
he still believe there is really a 1%, 30 year fixed. i'm glad he
called me back in about 15 months...and i said "go talked to your
agent...he should know better because i'm new at this.."

yaweh


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