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Reply #81: Unwittingly, we actually made out good on the mortgage loan game. [View All]

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dixiegrrrrl Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-01-11 11:28 AM
Response to Reply #68
81. Unwittingly, we actually made out good on the mortgage loan game.
In 2005, when we retired and moved back here to Ala, I had no idea about mortgage loan crimes.
We had a nest egg to buy a house, but no income yet, right after the move, and I was surprised that Countrywide gave us a 30 yr. "jumbo" loan so easily. We had great credit scores and a 30% down payment,
the house cost less than 40% than it would on the West Coast, the mortgage is ridiculously small.
Now I know what happened, of course, and am thinking of challenging BOA about the loan..maybe see about getting a Quiet Title.
But I also know there is no way we could have gotten a loan after 2008 in the same circumstances.
So, it worked for us, at the time.
Naturally the house has decreased re-sale value in today's market, but we did not buy to resell.
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