Comments on: First Magnus Executives Starting a New Mortgage Company: Stonewater Mortgage

By: Lani

Lani — Sat, 02 Aug 2008 01:49:53 +0000

As a former employee, I don’t care that they shut down. But was it really nescessary to tell lie after lie after they sent out the infamous “We’re closed” email. Telling us we’ll get paid, telling us we’ll have insurance till they end of the month, asking to please help us ship the loans to Tucson and we’ll pay you for the extra day, etc… One by one, they went back on their word. A BK doesn’t happen overnight. It’s a step by step plan that went into effect August 24, 2007. I wish nothing but the worst for them and I know 6000 other people that feel the same.

By: FIRST MAGNUS SUCKS

FIRST MAGNUS SUCKS — Tue, 08 Jul 2008 20:51:46 +0000

These guys are crooks they took their money and ran and screwed their former 5000 employees. They should be in JAIL !!!!

They spent money and hired idiots to run the show for them while they got rich. Only an idiot would go back into the wholesale business and approach brokers since many of them have closed their doors.

MAYBE THEY SHOULD PAY THE EMPLOYEES MONEY THAT IS OWED !!!!!!!!!!!!!!!!!!!!!!

By: private company bankruptcy

private company bankruptcy — Sun, 25 May 2008 02:35:18 +0000

[…] crunch that led to the bankruptcy of the largest private mortgage company in America was not entirehttp://www.sellingtucsonrealestate.com/blog/first-magnus-executives-starting-a-new-mortgage-company-…THE MEDIA BUSINESS Sons File for Bankruptcy for Private Maxwell …The two family-owned companies […]

By: Angie

Angie — Wed, 12 Mar 2008 15:51:38 +0000

I think the most important step is to be realistic in what you can and cannot do. I’ve seen so many first time home buyers jump into something they cannot afford only because they have big dreams.

Do your homework done first if you are thinking about taking out a loan or mortgage. The time spent looking into your options can save you a good deal of money later on.

By: Lee Matthews -- Financial Concepts West

Lee Matthews -- Financial Concepts West — Mon, 25 Feb 2008 16:09:44 +0000

“We’ll see how much success the new company obtains, but with the depressed mortgage broker business currently being experienced across America today, they may be better off taking some time before opening up shop in this market again.”

If the Stonewater Mortgage folks are smart they’ll introduce the concept of home equity acceleration to their clients — they’ll have instant success:

More and more folks are using a Home Equity Line of Credit (HELOC) or a business-line-of-credit (BLOC) or personal-line-of-credit (PLOC) as an interest cancellation account to accelerate their home equity and payoff their home *years* sooner than listed on their mortgage amortization schedule.

Unfortunately, today’s Real Estate market means that folks can no longer count on appreciation to build home equity. Those who realize that they need to pay down their current mortgage debt are looking for alternate ways to aggressively (yet safely) build equity.

And they’ve discovered a perfect online system to do that; they can focus on their wealth accumulation goals while accelerating their equity simply by using an Advanced Line of Credit (ALOC) to ‘power’ the Money Merge Account™ financial solutions program.

A typical 30 year loan (of whatever type) can be paid down in 1/3 to 1/2 the time — it’s a great way to save *huge* amounts of income by eliminating a mortgage amortization front-end interest load. (On a million-plus dollar home, I’ve personally seen where the Money Merge Account™ program will save the homeowner $750,000 in interest charges!)

And the best thing – homeowners don’t have to refinance their existing mortgage or, in most cases, make any adjustments to their lifestyle.

It is unfortunate that most of us were never taught to follow three essential principles: (1) Avoid paying interest, whenever possible, (2) Use other people’s money, whenever possible and (3) Find and use a financial system that will guide you, especially if you have the tendency to go off-track. The Money Merge Account™ software and the program’s counselors use these principles to keep each homeowner focused on their wealth accumulation goals.

I’d be happy to provide further details…