Your Name:
Your Email Address:
To: (Email)
Subject:
Message:
Email Preview:

Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

So...Here We Go Again?
I recall back in the 90's right before getting into Real Estate, I was working as an Account Executive for a very large bank.  We focused mostly on what's popularly known as "A Paper", which is to say we only gave loans to those who were creditworthy and expected to be able to pay the loan payments.   In a meeting at the corporate office, there was talk of opening new branches however we were being barred from doing so because of our reluctance to start doing risky loans.  These loans our bank refused to do are commonly known as "sub-prime" loans and we now know the result of numerous lending institutions making these risky loans to people who should never have been given a loan.  My bank is no longer in business by the way.  
I won't go into all the details of the causes of the well known mortgage meltdown in this post.  That's not the purpose of this writing.  For the details, you can always refer back to my previous post "How Did We Get Here" Today's post will be a quick look at something happening that hearkens back to the whole "sub-prime" debacle.  And I'm really concerned.
Recently, a ... more

__________________________________________________
Are you on The Rain? Grow Your Network!




Spam prevention