Somebody buy me

We have another home profile of 100% financing and the house selling for a loss. This house is located in Dover, NJ.



This large colonial has three bedrooms, two bathrooms, a large eat in kitchen, a formal dining room, a fireplace, hardwood floors throughout, and that is just the start.

Fireplace Full Basement Hardwood Floors Lot: 47 x 100 New Fixtures Public Water & Sewer Taxes: $4,496 Two Bathrooms Walk In Closet

Formal Dining Room Great Location Large Yard & Garage Master Bedroom Pristine Condition Spacious Front Porch Three Plus Bedrooms Very Well Maintained Walk Up Attic

The house actually looks pretty cute and the taxes are not that bad. So lets look at the history

• Purchased Oct. 2005 for $348,500
• Mortgage 1 Oct. 2005 for $278,800 ARM with ARGENT MORTGAGE CO LLC
• Mortgage 2 Oct 2005 for $69,700 with ARGENT MORTGAGE CO LLC
• Currently For Sale at $329,000

From the numbers we can see that Argent Mortgage bought the house for the owners/residents. The current asking price is $19,500 loss after almost 2-1/2 eyars - not that bad as some but after the standard 6% realtor fees of $19,740, a total of $39,240 will be lost.

And just who will lose these funds - assuming that Argent did not sell the mortgage - huge assumption? Well Argent was the first mortgage company that did this type of lending that NJ HELOC Heaven has profiled that has not went under - it was bought up by CITI!?!