predatory lending: So many Foreclosures......Who's to Blame?
- 05/05/07 04:32 AM
In the aftermath of the recent storm of foreclosures, I've heard and read a lot of people sharing their thoughts on who is responsible and what caused the problems, how to fix the problem, how not to fix the problem, etc. More often than not, it's lenders and adjustable rate mortgages that take the brunt of the blame. And, certainly, in many cases, that is absolutely the case. But, I want to introduce a new perspective to the mix. Though I agree that 30yr loans are best, and that there ARE "slick" and "greedy" lenders out there, it's important to … (3 comments)
predatory lending: HB4050...Trying to Fix the Problem, They've Made it Worse.
- 03/27/07 07:42 AM
I've written about HB4050 in the past. "HB" stands for House Bill and if you want to know a little more information than I'm including in this blog, feel free to refer back to my previous blog on the topic. Here's what I've learned, in a nut shell. There are bad people in the world. Some of them work for mortgage lenders and brokers. Sometimes those people take advantage of unsuspecting first time, or even seasoned, homebuyers. Years ago, I was one of those homebuyers. You can read that story in my blog "My True Story of Predatory Lending". The local government … (1 comments)
In the aftermath of the recent storm of foreclosures, I've heard and read a lot of people sharing their thoughts on who is responsible and what caused the problems, how to fix the problem, how not to fix the problem, etc. More often than not, it's lenders and adjustable rate mortgages that take the brunt of the blame. And, certainly, in many cases, that is absolutely the case. But, I want to introduce a new perspective to the mix. Though I agree that 30yr loans are best, and that there ARE "slick" and "greedy" lenders out there, it's important to … (3 comments)
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