Explaining Mortgage | by Wall Street Survivor



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Filed Under: Buy

33 Comments

  1. The paper is going out of the mortgage companies pocket. It really gets me mad how some can put down a measley 10 % when I tried to put down 50 60 70. I think bank account holders should have a say in whether this person can put down 5 %. Anybody can get fired.

  2. So is the fixed rate the amount you pay yearly to make the mortgage balance decrease? In your example given they would be paying 20,000 every year for 5 years but thats only 100,000 so the balance is still 300,000, sounds like a huge scam. Im new to the world of real estate so Im probably way off just trying to understand this. If anyone in the comments can enlighten me please do.

  3. Mark and lisa are financially uneducated and will struggel finanacially for the rest of their lives, the house will eat the alive, not only the house but also taxes, and a baby will come sooner or later and the real meaning of hell will start at that time

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  5. This is slightly misleading.
    At 2:14, you say that the Bank owns some of the house. How did they own the house at this stage if they havent got themselves involved with the house yet?

    From their perspective, the house is only a backup for them to seize if the couple cant pay the money back, but at this stage (2:14) the bank doesnt "own" any of the house yet right? The Bank just knows it has lent money to the couple, thats all.

  6. i couldnt get approved for a mortgage because i had the worse score ever until totalspyhacks. they fixed my score within 4 days of contacting them and got it high enough to actually get a mortgage. totalspyhacks@gmail.com

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