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   Types of Loan Programs-> Pay Option ARM, Pick-a-Payment, Cash Flow LoanMessage format
Michelle Yanez
Posted 4/20/2005 4:25 PM (#186)
Subject: MTA, COFI, COSI
I am not so sure in deciding for which program, either MTA, COSI, or COFI will be best for my new purchase. Looking at all the indexes, they look very volatile. However, I was sugested to go for COSI. Please help
Posted 4/22/2005 6:49 PM (#188 - in reply to #186)
Subject: RE: MTA, COFI, COSI
COFI is the most stable of the indexes. The COSI is a product of World Savings and Loan and nobody else has it. They claim it is more stable than the COFI but the start rate and margins are much higher. Also, World Savings is a terrible company to work with(as a broker and as a customer).

I would be more than happy to talk with you more about it in detail. or 888-811-9545.

Posted 7/30/2005 9:23 PM (#312 - in reply to #186)
Subject: RE: MTA, COFI, COSI
Option arms have there place. Is this the only type of loan you are considering? As for your question, Michelle, is a nice historical glance at the stability or instability of these indexes. It must be your decision especially in an interest increasing market. However all of the company's that offer the option arm or pick a pay loans are fantastic just be sure to look at the worst case scenarios and remember to consider the prepayment penalties, if it's bad for you it's better for the bank, banker or broker. With interest rates increasing and having a prepay on a 1 month adjustable (because that's what an option arm is, with a neg am feature) Your concern should be with the potential increase in payment and no way out without a stiff penalty - work over your broker or banker and see what the difference is with no pre-pay.

PS first-time home buyers this is not a loan I would recommend for you. This is not a loan for those with champagne taste and beer wallet. Great program for those with cyclical income low base with big bonuses or commissions paid infrequently thought the year, self employed may benefit as well.
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