Steve
Corona,#2Consumer Suggestion
Wed, January 25, 2006
I am in the mortgage business and I can suggest a few people at that location for you to call. I worked with them at a different company and they will help you. Call Brandi Franson, Norm Steeg, or Michele Berman. Brandi and Norm are at an executive level, Michele is a Loan Officer. They are all legit and honest people. Now, regarding the MTA loan, commonly known as the "Option ARM, Pick-A-Pay, or Flex loan. Yes, it has the POSSIBILITY of negative amortization, but depending on how much you pay each month, it does not have to be that way. Making at least the "interest only" payment will not go neg am. The Homeloan Center has MANY other loan programs, not just the "Option ARM" that you are referring to. Your application fee can be used for any of the other loan programs there. If you call one of the people I suggested, they should be able to help you out. The option ARM is not a bad loan. It has certain features that would be very beneficial for a borrower using the loan for some specific purposes. It is not for everybody.