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Here’s an Ad We Don’t See These Days

By JLP | October 22, 2012

I was reading about Ray Lewis last night and one of the articles I read about him was in a PDF version of a magazine. Paging through the magazine, I came across an add for a mortgage broker who offered the following:

Advocate Mortgage Capital

WOW!

This was from a magazine published in 2007.

I know it was bad but looking back at things through this ad made me realize just how silly things had become.

Irronically, this bussiness’ website URL came up dead.

Topics: Credit Crisis, Housing Market | 4 Comments »


4 Responses to “Here’s an Ad We Don’t See These Days”

  1. clocks Says:
    October 22nd, 2012 at 4:21 pm

    Scary to think how many people in this boat got loans.

  2. Evan Says:
    October 24th, 2012 at 10:55 pm

    It kills me not doing anything about it then when the writing was on the wall…

    It would have been nice to be one of those people that had the testicular fortitude to liquidate everything just to have bought it back at rock bottom prices a few months later

  3. BG Says:
    October 26th, 2012 at 10:24 pm

    I hope those types of loans have been regulated out of existence by now. 50-year liar loans! Insanity.

  4. kitty Says:
    November 4th, 2012 at 6:41 pm

    Yes, and these days people who have more in savings/investments than the value of the mortgage are denied. A friend of mine just got denied – she wanted to take a mortgage for less than half of the value of the home to take advantage of low rates, didn’t want to sell her investments. The trouble is – she took advantage of some of 0% offers for improvements simply because it was less than what she was earning on her money. But… the funny thing was that she paid off all of these loans in their entirety right before applying, but they still held it against her. The funniest thing is that a) she was asking for mortgage for less than half of the purchase price and she had about 3 times the amount in various savings and investment accounts (non-retirement). She just ended up buying the place for cash.

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