No SSN & Lending Tree Advertisements
I keep asking myself – why does Lending Tree continue to advertise that No SSN is required on the Huffington Post?
You can’t get a cell phone without a SSN_and the phone is free, but here is Lending Tree advertising in RED that no SSN is required.
Did some google-ing and only thing I can find which make sense is that Lending Tree BUYS equity from a home that you already own, therefore, it is not really a loan, and yes, non-US citizens can qualify, because if they default, they loose their home.
So, let’s give some thought to the technique of following the money. If there is $60 Billion in these types of loans presently outstanding, and, given a default rate on these types of mortgages of 1% (my estimate), then if my calculations are correct, $600 million dollars shifts hands from the homeowner to someone other than the homeowner.
How aggressive would I be if there were a bonus of $600 million in addition to all the other profits?
Sure will be interesting to see how the aggregate numbers will shake out at the end of the year. I wonder if there will be a disproportionate number of illegal immigrants who loose their homes compared to the rest of the population.
BTW, if you are looking for a job_having lost yours to some Communist in China_First Meridian Mortgage corporation has an ad up on careerbuilder.com (click the ad to go to the web page)
