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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: ild who wrote (23840)2/17/2005 8:04:37 PM
From: CalculatedRisk  Read Replies (2) of 116555
 
Aren't you just bidding for the downpayment? It sound like you still owe the entire amount ... no matter what the bid.

The price for this fabulous property is only $3,980 plus the $99 closing fee

You are bidding on the down payment only which will be subtracted from the total price. After that, monthly payments are only $100 a month until the total is paid. Closing fees are only $99 which are paid with the down payment. The only additional fee is the standard $19 monthly late payment fee. We charge the variable prime interest rate! The variable prime interest is the interest that the leading banks and financial institutions in the country charge to their best clients. It is currently 5.25% per year. There are also no fees or penalties for paying early.
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