Posted by Anonymous on 5/20/06 4:17pm
Msg #121278

what a great loan..

Don't know if it was in error but how's this for terms:

$125,000 HELOC
0.00% interest for 2 years, then prine +0.00.
Borrowers thought it was a mistake, but they signed. Said they'll take it all out and put it in CDs or money market certificates. (they had only wanted a $75,000 line but the LO said, take what line you can get, it will be there if you need it.)

Reply by BarbaraL_CA on 5/20/06 10:04pm
Msg #121298

Who was it with? n/m

Reply by Missy_Lulu on 5/20/06 11:06pm
Msg #121304

I'm reading 0% for 2 years then Prime + 0%.
That would mean after two years they will pay interest at Prime Rate.