Posted by Elizabeth Soliday on 7/19/07 12:33am
Msg #200706
Did my first "money merge" today
It was interesting. I heard the loan officer telling them on the phone that if they followed their instructions and didn't pay off the loan within 11 years 1 month, their company would be liable for the remainder of the mortgage. Interesting that it was a 30 year mortgage and had a line of credit with an ARM (addressed as a second loan).
The borrowers were instructed to just pay back the line of credit amount and they would be using their checking account for the money merge account.
Does anyone know if you can use this on investments?
I am still skeptical as an old fashioned girl, but intrigued at the possibility.
|
