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22
Nov
SubPrime Mortgage Mess Explained (with voice)
Archived in the category: mortgages
Posted by: admin - 25 Comments
25 comments for “SubPrime Mortgage Mess Explained (with voice)”
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bill127234
Add in illegals …
Add in illegals buying houses and kaboom.
It all started with CRA 1977 and Jimmy Carter.
November 22nd, 2009 at 4:43 am
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aikido7
More than 84 …
More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions.
Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.
Only one of the top 25 subprime lenders in 2006 was directly subject to the housing law that’s being lambasted by conservative critics.
Fannie Mae & Freddie Mac? Uh, no. ACORN? Uh, nope again.
Try George Bush, Phil Gramm and all the values voters.
November 22nd, 2009 at 4:43 am
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betrayer006
the bible says the …
the bible says the same stuff about debt so there is nothing special about your koran
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MrMortgage1
mortgageartist. com …
mortgageartist. com
The best thing you can do is arm yourself with knowledge, even better if it’s free. a little time and a few clicks now could save you years and thousands of dollars later.
the choices you make today define your tommorow.
November 22nd, 2009 at 4:43 am
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bluenose1006
Yes as a broker in …
Yes as a broker in the UK i agree were all in a mess.
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MrMortgage1
mortgageartist. com …
mortgageartist. com
Your path to the best mortgage information resource around.
Educating yourself costs you nothing, ignorance can cost you everything.
November 22nd, 2009 at 4:43 am
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clairehsu2008
Not only mortgages, …
Not only mortgages, student loan is also crazy…many Asian countries’ college loan is only lower than 2% fixed for life…sigh!!
.15
porcelinnadoll
the dumb ‘helium …
the dumb ‘helium ballon’ voices are VERY distracting. Ugh
.16
shroomduke
very good question! …
very good question!
it seems to me that there was a novice getting a loan and a PROFESSIONAL selling the loan, yet so many want to blame the little old lady that was just trying to make a living!
November 22nd, 2009 at 4:43 am
.17
EasyEs
Sorry no one knows …
Sorry no one knows how well the CRA loans performed on an individual basis. The study the treasury department put out about that said that in bundled securities they thought that CRA loans performed just as well as the other loans in the bundle because they had no way to tell otherwise.
In my opinion with the threat of government action and litigation every time you refuse a loan you’ll just start handing them out all the time.
November 22nd, 2009 at 4:43 am
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November302008
We need 30 year …
We need 30 year fixed rate mortgages to be 2.5 % or lower.
.19
FWEEPSTAR99
CRA loans default …
CRA loans default at a lower rate than others.
Over half of the people that received sub-prime mortgages qualified for prime rate mortgages. There was strong pressure by lenders to to get people into the sub-prime mortgages.
The people taking out ARM mortgages never intended to pay them off or even live in the house. They were skeezy people with money to burn who intended to buy property and flip it as soon as the value of the home rose through market value that was ballooning unrealistically.
.20
jkratz930
this is a great …
this is a great video. i actually learned what this dumb thing was about.
.21
bcmalloy
What I don’t …
What I don’t understand is people who received these loans are not automatically refinanced by law as they were clearly mislead and defrauded by those selling a product dressed up as a loan to buy a house they could one day own when in fact they could never own the property they bought with one of these loans? why are the people who defrauded the public not held accountable for their actions ?
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stuntmasta305
Why don’t you …
Why don’t you mention the CRA, you don’t blame the government for this dilemma.
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JohnStumpfWF
Thank you for your …
Thank you for your explanation – I wish I had known this years ago!
.25
homesrustosave
Attention Save Your …
Attention Save Your Home Come To our site we will get you in contact with a loan modification expert for free visit homesaver(DOT)tk
