Israeli Mortgages sure look good

Israeli Mortgages sure look good.

I have heard many complaints about Israeli mortgages from various Anglos. Most of them are way off.

I used to be an American mortgage broker, so I still occasionally get product announcements. Take a look at this one:

We know business is slowing down and it's getting harder to close loans.

Let GMC Mortgage Capital be your OASIS of liquidity in these arid times...

Check out our amazing RESIDENTIAL and COMMERCIAL programs !!

	RESIDENTIAL
Mid-Credit Score	400 +
LTV	65%
Loan Amounts	$150,000+
Rates	Starting at 10.99%
Loan Type	1/29 or 2/28 ARM - Interest Only first 5 years
Broker Fees	NO restrictions - (up to legal limits)
Doc Type(s)	Stated/Stated, Lite Doc, Full Doc
Timeframe	~7-14 days
State Availability	FLORIDA
	AZ, CA, HI, ID, NV, OR, & UT
Property Type(s)	SFR (1-4 Unit), OO or N/OO
	* Restrictions may apply based on payment history, property location/type and/or doc type

 

If you are unfamiliar with the terms here, it means that you can get a mortgage starting at 11%. They are also willing to lend money to people who "state" their income, it will cost 1-1.5% more. This is for people with very poor credit. The loan is more or a foreclosure trap than a home-equity loan.

Mortgage Israel

Most banks aren't like this, and wouldn't make a loan to anyone with such a low credit score, but they have milder variations of the same programs.

 

In Israel, you can get up to half of your loan amount interest-only, never the whole amount and that not always. You can get nothing without documenting your income, regardless of your ability to pay. The banks have horrible programs that will milk you, but there are only a handful of foreclosures each year. It is essential to secure the services of an Israeli Mortgage Expert, but you can be secure in the knowledge that the banks will not give you a loan that you can't repay.

 

Better Mortgages in Israel

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Why is everyone talking about the Dollar?

Why is everyone talking about the Dollar?

 

This question is only half rhetorical. Everyone in Israeli real estate speaks about the dollar (US) because more often than not real estate here is traded in dollars. (A few months ago I explained that a portion of the rising real estate values in Israel is the weak dollar. The market has adjusted to shekels, only it doesn't know it.)

 

OK, so we watch the dollar and love to hate it, and all in all we can do almost nothing about it. Can it help you make money? Maybe it can. We're always thinking about dollar-shekel exchange rates, but banks in Israel also make loans based upon the Euro. Maybe we should ask: how come nobody talks about the Euro?

 

The astute investor can make a fortune by doing a Euro-Dollar play. Even if you don't have suitcases full of money, if you consult with an Israeli mortgage expert, you can make the bank's money work for you instead of you working for the bank's money. You can refinance your home several times to take advantage of the market fluctuations. Your typical mortgage bank manager, to say nothing about the mortgage clerk, won't be able to understand this, so don't waste your time talking to them about it.

 

Let's take a quick historical look at the Euro-Dollar exchange rates:

 

As of today, the Euro is even a little higher than this chart shows, at 1.4234 dollars, its highest rate ever against the dollar. Why is the Euro strong? What industrial advances has Europe brought about in the past four years? Where is the wealth has Europe created to fuel economic growth? Where are Europe's advances in science that promise the next generation of economic growth? They are all non-existent.

Mortgage Israel

 

To put this in layman's language, the Eurotard's have already regulated themselves into stagnation and are about to over-regulate themselves into irrelevancy. Between the greentards and the pinktards and their islamofascist allies, Europe's impending doom has been all but promised. Science has been replaced by voodoo fear-mongers, industry has been replaced by regulations and business has been displaced by the hijab.

 

There is no way that this euro-dollar rate can continue for long. Within three years I expect the dollar to gain strength against the Euro.

 

Can Shlomo mortgage-holder benefit from this? Definitely!

 

We have a few different methods, it will be different for each mortgage-holder. Most of these methods will involve slightly higher payments in for the next few years, while the amount of principal that you owe the banks shrinks like a grape left out in the August sun.

 

מועדים לשמחה

 

Israel Mortgage

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