http://en.wikipedia.org/wiki/Negative_amortization

http://www.citytowninfo.com/mortgage-articles/home-equity-loans/reverse-annuity-mortgage

reverse annuity loan
takes kids iheritable equity

point
one percent of the amount borrowed

based on econ conditions
if put into
bond market
a six percent rate of return.

lenders fees
income tax statements

usury
ballot proposition
residential
owner occupied

lender may charge
5% plus federal discount rate plus federal discount rate
lender today
federal discount rate
plus federal discount rate
in california
whichever is higher
usury laws dont apply to most lenders

not to sellers
not to RE brokers
many institutional lenders

when buy real estate
pledge property as collateral
sign security instrument

foreclosure preceedings
go to court
the judicial foreclosure process
but we'll get to this
trustee
trustor
beneficiary
power to sell lender borrower
other fees

default the loan if you dont have casualty insurance
mortgager
has the lien
with a mortgage
you have title if they foreclose against you
title transfer
foreclosure
lenders in CA hey this idea
of having to go to court
the more foreclosures there are
how about giving the title now

get a third party to hold the title---the trustee

with
if buyer borrower defaults on the loan
they don't have to go to court
that could be done

two versus three parties
the borrower is the trustor
the OR suffixes
the bank is the trustor
mortgagee
mortgagor
neutral third party
homeowner mortgage

the legal title

the FED
chairman of the fed
independent
bernanke
was chairman of the fed under chairman bush
bernanke
this person who heads the abanking reserve
a pwrful figure for the economy
whether or not to change or lower the federal discount rate
a bank could borrow money

usury index
discount rate

buy and sell treasury bonds
when there is a run on a bank
no bank ever had deposits or funds
how much
on hand
determines
the reserve req for the bank is the margin req for the bank
federal discount rate

more known vs.  how much of a dep is kept
rase reserve requirements
most of these things
fed does to affect monetary policy

global economy
measure of economic activity
gross domestic product

respa
http://www.hud.gov/offices/hsg/ramh/res/respa_hm.cfm

affordability index

fico score
subprime loan
http://en.wikipedia.org/wiki/Subprime_lending

sub prime loan
fannie mae and mac
secondary mortgage

borrrower
coborrower

alimony child support
assets
difference between those
total monthly

negative net worth
 uniform form
broker buyer
different kinds of things

lets talk about where the money comes from

private mortgage insurance