the homeowners are at fault too. The banks dont force you to sign on the loan papers. The homeowners knew it was wrong and they still signed it. I got into 2 bad loans and knew they were wrong and still signed it. The homeowners were just as greedy as the banks.
Now i am responding to your email. You try act like your my Dad or something:( always telling what to do and act like your the boss or something. So I just got tired of everything. I was also having personal problems as well. But when your Vtcoa friends give you hell and you have to deal with...
The reason I was silent was because I have a Actual Job and dont sit around on the computer all day long scratchin my balls. Every ten years we have a Recession. Look back every decade Prof. I guess Mccain is right we have some people In the nation that Are "WINERS". The sky is falling we are...
Lets put this way Who in here is not affected by the Economy. And be honest. I am a Little Affected But I dont work on wall Street so Its really irrelevant for me
Free Market is Totally fine. The banks set themselves up buying getting overzealous and taking huge risks that they are paying for now. Detoriating underwriting standards, Inflated apprasials. Bad Business decisions And Number one thing they forgot Liquidity. CASH IS KING!!
Cmon Prof Chime in. Bill Clinton also Repealed the reforms of Glass Steagle In 1999. SO Basically this Crisis was decades in the making!!! Damn Democrats!!
Nothing wrong with Option Arms?? than why are they extinct now because these phony loans were never suppose to be around they were heavily market during the fake boom years and this was the only reason people making 40k a year could buy a house for 900k. And that was the reason homes went up so...
This My Suggestion:
1. Take foreclosed properties out of the market - (reduces inventory.)
2. They should "suggest" that banks offer 30-year fixed mortgages at 4% for
one year.
3. When the real estate market rebounds, sell the properties at a profit.
4. Return the money to the...
http://www.fdic.gov/news/news/press/2008/pr08085.html?ref=patrick.net
FDIC i thought only had about 50 billion to cover this mess. Indy mac cost them 15 billion and now Washington Mutual. it is predicted that FDIC will atleast 150 billion since more and more banks will fail pretty soon. Will...
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