GoFuckYourself.com - Adult Webmaster Forum - View Single Post - It's not 700 billion folks. It's 7.7 trillion.

onwebcam · 11-25-2008, 08:39 PM

It's hard to get people to wake up. We all have to do our part. It's hard for me to believe that it's true and I come from a financial background. Spent 5 years in the mortgage business even a co-owner in a mortgage company but I never knew that this is how banks worked. I did however see the shit going down hill long before. Got out of the business 7 years ago.

So now you know why they ask you to put 10-20% down. If you put 10% down they put that in reserves and can loan out 100% of that. If you put down 20% they can loan out 100% of that but you only get 100% or less. You pay on that loan for 60, 180, 360 month with interest on money they make up in the computer.

11-25-2008, 08:39 PM
onwebcam Fake Nick 1.0 Industry Role: Join Date: Oct 2005 Location: Rent free, your head Posts: 27,660	It's hard to get people to wake up. We all have to do our part. It's hard for me to believe that it's true and I come from a financial background. Spent 5 years in the mortgage business even a co-owner in a mortgage company but I never knew that this is how banks worked. I did however see the shit going down hill long before. Got out of the business 7 years ago. So now you know why they ask you to put 10-20% down. If you put 10% down they put that in reserves and can loan out 100% of that. If you put down 20% they can loan out 100% of that but you only get 100% or less. You pay on that loan for 60, 180, 360 month with interest on money they make up in the computer. __________________ PLEASE WAIT WHILE BIDEN ADMIN UNINSTALLS ITSELF..... ██████████████████▒ 99.5% complete. Last edited by onwebcam; 11-25-2008 at 08:40 PM..