But I suspect you are not a real newbie. I note how you were very quick to comment also to a well known tormentor of mine. A fake newbie is nothing new here. All you real estate and mortgage shills use the same sort of dissembling tactics.
For your information, I grew up in California. I have owned homes and owned rental properties in four states.
It is going to be very hard for California home buyers to find mortgage companies to help them refinance. They are going out of business rapidly. . . 114 ! . . mortgage lenders have now gone belly up. Since December, 2006. Many of them were based in California.
Hope all the criminals eventually are forced out of the mortgage business. Some high level management people deserve to be behind bars.
I think Jim Cramer is right about thing, that a lot of people will just walk awy from their homes. Why struggle to make a payment after it readjusts when you realize you are 20% to 30% in the hole. I ahe seen it before, they just mail the keys to the bank and rent for a few years.
I signed up yesterday after reading your incorrect information on several threads. I didn't read in the rules that correcting false information was a violation.
I called your bluff a few exchanges ago. Instead of folding and acknowledging that your information was wrong, you started to attack me and call for help.
It's clear you did not look at my earlier posts. I have not hidden what I do for a living. Now, I'm supposed to be one of your tormentors.
Here's a tip. When you have the facts wrong admit it. It's more gentlemanly and honest and others will respect you for it. But what you've done is turn it into a pissing match. I'm not going to continue that because you just change the subject like you just did with mortgages. You posted information I never addressed to you to avoid apologizing.