In these times of crisis, many of us pay more at our expense and try to be a bit stricter to the economic difficulties we face are going through. The mortgages, employment instability and difficulties in finding credit help all households as households invest more and more cautious.
But this does not mean [...]
What caused the mortgage crisis? If you ask consumers, they say the most, "Greedy mortgage brokers that" made bad loans to good people. Perhaps they did play a part in the chain of destruction that America is today, but they were only one link in a very long chain. The truth is, the mortgage [...]
What caused the mortgage crisis? If you ask most consumers they will say, “Greedy mortgage brokers that made bad loans to good people”. Perhaps they did play a part in the chain of destruction that America is in today, but they were only one link in a very long chain. The truth is, the mortgage [...]
With all the foreclosures and bankruptcies, the loans are triggered by the subprime crisis, why creditor is not just all of these homeowners in better? We are often asked this question on our mortgage blog quite. It is a reasonable question. If it's the bad loans, what are the problems would not bite less [...]
I went to a very interesting meeting yesterday at which Joe Brown, founder of Milestone Mortgage, who walked us through the start and what he sees as the finish of the current lending crisis. The following comes from notes I took.
After the crash of the tech sector and 9-11, our economy was in a [...]
It seemed like the perfect storm, house prices were rising and when we were having our greatest housing boom in American history, we were suckered by unscrupulous mortgage lenders who offered us loans for houses we could not afford. The problem is now those loans are adjusting, no more teaser rates and most of us [...]
With all of the foreclosures and bankruptcies that are being triggered by the subprime mortgage crisis why don’t lenders just put all of these homeowners in better loans? We are asked this question on our mortgage blog quite often. It’s a reasonable question too. If it’s the bad loans that [...]
What is the subprime crisis? Lenders and their mortgage originator steered borrowers who was short-sighted, gullible, unqualified, greedy, or all of the above into variable-rate loans that were extremely low interest rates. The problem or crisis is that the loans were designed to adapt to the above-market interest rates after a short time. The [...]
Panic Struck on Wall Street, the Dow Jones Industrial Average plunged thousand points from July to August, and commentators warned of a 1929-style, bringing to crash. To prevent this dire outcome, the Fed expanded and the central banks of Europe, Canada, Australia and Japan, a 315 billion U.S. dollars lifeline in troubled banks and [...]
Everyone is now aware of the impending mortgage crisis and has probably had their two cents to their cause and financial effect on the world. Once in the mortgage business a little more than ten years, I have most of the press that cover this historic event in the U.S., and I thought I [...]
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