RSS Feed
Twitter
in an effort to let more LOW-INCOME MINORITY applicants qualify for mortgages and loans. the government encouraged banks to lower thier lending standards, in effect CAUSING the housing problem that now exists. a scandal happened. But, not to the recipients of sub-prime mortgages. to every other hard working American taxpayer who showed restraint when it comes to purchasing!!!
Posts Tagged ‘Mortgage’
Sub-Prime Mortgage “SCANDAL”…
March 6th, 2010 
Pete 
Posted in Uncategorized 
Tags: 
Walk away from your mortgage!
March 5th, 2010 Pete
With banks refusing to help homeowners with their underwater mortgages, a New York Times story advocates simply walking away. On Countdown. Copyright MSNBC 2010 www.youtube.com Keith Olbermann housing market real estate mortgage default Countdown strategic default banks bankers
2010 Real Estate Market Collapse – Prime Mortgage / Alt-A / Option ARM / Commerical – Investor Alert
March 1st, 2010 Pete
In 2007 the Real Estate Bubble began to deflate with Subprime mortgages busting the loudest. The stock market collapse in half in 2008. This 60-Minutes special features experts that say 2010 is going to be worse. Millions more Americans are going to face foreclosure with their homes underwater, even prime mortgages. Home values are going to decrease another 30-50% in the most inflated markets. Get out now and go into safer assets. Be ready investors and 401k holders, your stocks are about get cut in half AGAIN when this new panic across the entire platform of the housing market in 2010/2011. Deflation, then more bailouts/stimulus, then serious inflation.
TheRealDeal – Second wave of mortgage crisis to come
February 25th, 2010 Pete
In a segment on CBS that aired yesterday, 60 Minutes correspondent Scott Pelley talks to investment and credit experts about the new types of mortgages that will create a second wave of foreclosures. The country has already suffered the subprime mortgage crisis, and the experts say the next wave of risky mortgages to default are the Alt-A and option ARM mortgages, which were also bundled into Wall Street securities and sold to investors. For more information plesae click the link: www.cbsnews.com
Land Contract Homes Ohio
February 5th, 2010 Pete
Manufactured home loan for first-time buyer with 550 fico possible?
Looking for a lender (or lender high risk) to approve a loan for a manufactured home (double wide) for a 500-550 fico score in Ohio w / a Chapter 7 filing in 2000. They pay their rent, credit cards etc on time each month, but have some slow pays on a loan car and some medical debt. They are tired of renting and want a mortgage that they can call their own. Even a rental property or the land contract work. All business ideas that you would in Ohio? Thanks for any information or company information to offer.
If the house is on a regular basis and not just skirts, often is treated as a car or RV. It will require great credit score, but it may be necessary to reach more money down. If you is looking for new purchase, the seller that in fact the mortgage broker for you. Most manufactured home sellers do this, or they would not sell any homes. Referring to an earlier answer, I have NEVER seen a credit institution to provide a loan to 30 years in a manufactured home. In general, decreased in the value instead of increasing, and an amortization of 30 years the buyer would reverse its capital. Good Luck
Land Contract/Lease Option Home Butler County Hamilton Ohio