Please explain surrounded by layman's vocabulary what the credit/mortgage problem that burdened the US reduction since closing yea?
was this what caused the recession surrounded by the USA?
Answers:
Quite simply, the banks loaned a lot of money out to relatives who should not have qualified for the loans and now these individuals are defaulting leaving behind unpaid mortgage balance. So, the banks are not getting enough incoming dosh flow to continue operations and to receive new loans to propogate the financial cycle.
rich people be getting rich by loaning poor at excessive amounts. house prices were artificially high. everything go back to equilibrium.
poor could not pay the loans they took. bank take the homes at a lower price but at the end in that were not enuf demand to hang on to house prices high.
money that banks give to people is now at the hand of building/house/land industry. banks now own houses for sale.
government tries to income banks losses with taxes. however if it be a free economy, no one would enjoy helped anyone to cover losses. so the government belongs to few rich ancestors.
Related Questions:
Do you requirement to bring back a credit card surrounded by instruct to bring a worthy credit rating so you can procure a mortgage?
or does the fact that you don't need your credit card show you can be in charge of your money enougth to get a mortgage anyway. Managing your money...
Answers:
Quite simply, the banks loaned a lot of money out to relatives who should not have qualified for the loans and now these individuals are defaulting leaving behind unpaid mortgage balance. So, the banks are not getting enough incoming dosh flow to continue operations and to receive new loans to propogate the financial cycle.
rich people be getting rich by loaning poor at excessive amounts. house prices were artificially high. everything go back to equilibrium.
poor could not pay the loans they took. bank take the homes at a lower price but at the end in that were not enuf demand to hang on to house prices high.
money that banks give to people is now at the hand of building/house/land industry. banks now own houses for sale.
government tries to income banks losses with taxes. however if it be a free economy, no one would enjoy helped anyone to cover losses. so the government belongs to few rich ancestors.
Related Questions:
Do you requirement to bring back a credit card surrounded by instruct to bring a worthy credit rating so you can procure a mortgage?
or does the fact that you don't need your credit card show you can be in charge of your money enougth to get a mortgage anyway. Managing your money...