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Blog entries tagged with "bad loans":
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Okay, here we are and I’m sure we’re all thinking “What’s going on out there? One day we have a bailout, next day we don’t and then just when you thought it was over “Kidding!” We have one again!”
Wasn't it just two weeks ago that President Bush was assuring us that the foundatin of our economy was basically sound? I couldn't help but watch last nights speech with anger and sadness. I guess that it comes as no surprise that the American homeowner was blamed for the countries current … (0 comments)
We have all read about the homeowner who has taken out the 50 year, interest only, adjustable loan 3 years ago and now that the payment is recasting, they can no longer afford their home. It seems you can't read a blog or newspaper article about homeowners, and not find one … (3 comments)
Myth # 9: Nonprofit organizations like Consumer Credit Counseling Service (CCCS) can help me restore my credit.
Staying in front of friends and family will not only get you great referrals, but can also keep those you care about out of a lot of trouble. 
Freddie Mac and Fannie Mae are also part of the shadow bailout. The two congressionally chartered companies have been helping to provide liquidity to the marketplace by buying mortgages from lenders and using the proceeds to make even more loans.
is a pejorative term used to describe practices of some lenders. There are no legal definitions in the United States of predatory lending, though there are laws against many of the specific practices commonly identified as predatory, and various federal agencies use the term as a catch-all term for many specific … (0 comments)
I was searching for some Atlanta local news this evening and I came across something I wasn't looking for. It seems that as of 3PM today the Federal Deposit Insurance Corporation FDIC and the Office of Thrift Supervision shut down a local bank which is Internet based and has no physical … (23 comments)
I had a pretty crazy week. I have done many transactions in my career, but this week two of my borrower's did such egregious acts, that I am at a complete loss. A third potential borrower wasted hours and hours of my time and his agents. All three lied. One committed a criminal … (34 comments)
It is all so curious. It is all so curious where we are now. Abusive relaxed credit underwriting sold many homes, and now those lenders are getting the opportunity to own them. It was all so predictable. The train was coming and no one wanted to believe it wouldn't stop in … (6 comments)
I wanted to weigh in on something that we are all dealing with. A major reason for this market contraction is the lack of confidence in our product. Not by the consumer but by the investor. Where Mortgage Backed Securites were cherished by investors in the past. they are as cherished now. … (20 comments)
… (4 comments)
Some lenders just do not care. Have they not seen what has been going on in the industry? Today I recieved a solicitation in the mail about a 1.75% loan that could bring my payment down to $810 a month. Sounds great unless you are a loan officer and know exactly … (11 comments)
Home Sellers are having a difficult time selling their property because there is simply no equity ..
Goodbye subprime market - I am happy to see you go! I never liked you anyway ----
The night before last, I met a friendly woman we'll call Susan, who six months ago had moved with her retired husband from Oklahoma to Las Vegas. They had sold their Oklahoma home and left behind long-term friendships so that they could be near their pregnant daughter and her husband. "In a drunken … (24 comments)