Why is the American cutback going down the toilet so hurried beside unpromising mortgages?
Answers:
predatorial lending companies that dont watchfulness about the person applying for the loan... adjectives they see is $$$. and bush said on the news he isnt going to bail these companies out either no federal funding!
my theory is exactly this: mortgage brokers oversold mortgages to people that didnt really qualify, basically to get their cut. Source(s): what do you bet that the negs on here are from mortgage brokers that didnt like my answer? ROFL LMAO (a) you, most of you appear to be rabble inhaling bottom feeders, so live with it
Greed/Fear Cycle
We're now in the start cycle.
Think housing could not possibly get any worse?
Think again.
Look at the mortgage resets for the subprime mortgage market subsequent year.
Aug (07) 52 Billion Dollars
Sep 58
Oct 55
Nov 52
Dec 58
Jan (08) 80
Feb 88
Mar 110! WOW
Apr 92
May 72
June 75
July 50
lmfao..is that what you ruminate..READ THE NEWS STORY..its still up for the week. the only thing risky to the economy is the pelosi/reid regime and the ridiculous tax and spend scheme.
sub-prime and ARM loans are just a part of the problem.
The cutback has suffered through weeks of volatility triggered by concerns about tight credit and doomed to failure subprime mortgages.
Today Banks in Europe announced that they are also locking some accounts of american mortgage companies due to their inability to accuractely show correct numbers.
This is creatinga mini-panic. All the things that had be denied up until this point are unraveling. On top of this, retail sales were mediocre, which shows that indeed, the housing collapse is affecting the consumer.
Bush, indeed is going to attempt to protect the discount but is coming after the realtors and mortgage companies that put this in motion. Bush has also said he will not pass financial assistance to the poor foreclosed homeowner...instead he says they need more tuition.
are we done yet? no where even close.
but remember, we hold seen this scenario before ----its a moment ago the people who are 35 and below who do not remember what happen in the 80's and it affected the cutback negatively then also.
thanks for asking...also in that are lot of articles on net about this....yahoo.com have one on its banner page right now give or take a few how this affected the stockmarket drop today.
good luck and appreciation for asking :)
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