Negatives of a 80 20 loan...........well you have to look at the BLENDED rate of the two loans and see if it is a better deal. I like the 80/20 loans myself and with yer scores even with the collection/charge offs the 8% you were quoted is wrong. I would say that the majority of my purchases right now are 80/20 loans because they always seem to end up with an overall better rate and no PMI. I guess a little negative would be that there is sometimes a processing fee on the first and the second loan......there may be an extra lender fee for the second, and the title/escrow fees may be a little higher because it IS two loan. Overall I like the 80/20 and down the road it allows you to attack the second as far as paying it off or refinancing your loan to get a lil more cash as your home appreciates.
All responses are appreciated..
rates when brokers don't complete written quotes as I linked to earlier. My rates were consistently the highest rates anywhere - at application.
in small claims. They were served today at 9:30 am and the TL is off of my credit report already!
He may try to say..."well, the remainder IS past due" but insist that your agreement was to settle the account. Granted, you may end up with "settled for less than full amount due" notation, but, inactuality, that's what happened.
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