Comments on: Now Here is a Bright Idea – ING to Introduce ‘Never Ending’ Mortgage https://4closurefraud.org/2010/05/28/now-here-is-a-bright-idea-ing-to-introduce-never-ending-mortgage/ - Fighting Foreclosure Fraud BY SHARING THE KNOWLEDGE Wed, 03 Dec 2025 14:24:28 +0000 hourly 1 https://wordpress.org/?v=7.0.4 By: Marilyn Abdilla https://4closurefraud.org/2010/05/28/now-here-is-a-bright-idea-ing-to-introduce-never-ending-mortgage/#comment-16568 Thu, 23 Dec 2010 08:36:32 +0000 https://4closurefraud.org/?p=5501#comment-16568 Maybe I am just tired,,but I don’t seem to follow this idea to well. It say’s.. ‘at current interest rate,’ so if in future interest goes back up..what gives there..alot higher interest rate? Also does this mean you never really own the house? Sounds like you are renting it if you never have to pay for it. Sure sounds like an Aussie form of an ARM’s optional. Or did I miss some key words..I read it twice. But when the hair stands up on my arm’s..that tell’s me something is amiss. This country has been screwed over with that interest only crap..brokers and banks made it sound so good..so everyone could own a house. Sure..and it only took a few years and everyone lost their homes. I just don’t trust any bank, wherever, anymore. The old way of mortgages were the best…same bank for 30 years. Notes and mortgages were kept at the same bank. But today, in order to make their millions in salary and millions in bonus they go the fraud way to gain. This was and is the reason for the housing mess of today. And the fraud still goes on. This CEO needs to be sat down and told the real facts of ‘ America’s ‘ ARM’s interest only loans that had a bank prediction of going into foreclosure within a few years. I say this idea is a rent to own..meaning you pay the property taxes, home owners insurance and up keep of the house…never to own it…and the bank is the landowner…

]]> By: ForeclosureHamlet https://4closurefraud.org/2010/05/28/now-here-is-a-bright-idea-ing-to-introduce-never-ending-mortgage/#comment-2312 Fri, 28 May 2010 23:26:44 +0000 https://4closurefraud.org/?p=5501#comment-2312 Um, I don’t get it………..”originate loans that have no fixed term and no requirement to repay any principal at all”.

I guess that’s another “housing prices only go up” strategy? Take heed, Aussies, that same bill of goods we Americans were sold didn’t work out so well for us.

Wonder if there’s a bonus cornucopia full of promises to refinance these “loans” in the future?

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