 Can i get a bank loan if i have a lot of credit cards with high balances? |
| i'm moving out of my parents house for the first time in 25 years to a place closer to work on feb. 1st and i am wondering if i will need to take a loan out to pay first months rent. i have 5 or ... |
|
 Do they let us keep pets if our house is being foreclosed? |
Well our house is soon to be foreclosed. So, I was just wondering if they'll let us keep our pets.
I don't want to leave my 3 cats behind. Nor do I want to give them to a ... |
|
 Can the seller back out of the house contract due to the insurance contingency? |
| When we wrote the contract to buy the house, our agent put a clause in there saying that if there were more than $1000 of damages found on the house by inspection, then the seller would pay for it. W... |
|
 Can I pay more on my mortgage? |
| Can I pay more than what the bank asks for on my mortgage? For example the banks said my dues were $1500. Can I pay like 2000 when I have more money or is that illegal on a fixed rate loan.... |
|
 Can you put a conditional offer that is dependent on the sell of your current home?? |
| We currently own our own home and we have decided to sell it after we found a different home in a better school district and twice the size. Is it possible to put an offer on the home we want that is ... |
|
 I was recently denied mortgage by a company my buyers agent recommended? |
| my closing is supposed to be in 2 weeks. according to the loan officer it was denied because i paid my rent late 5 times in 4 yrs. my credit score is not that great but i make over 90,000. I really ... |
|
 Ok...Hopefully,last question...? |
| They said we got the house,but they are meeting tomorrow to sign papers. Why aren't I included? Even if I am not a co-signer,I am his (buyer's) wife, so when my name goes on the title,when ... |
|
| Do I need to give a 30 day knotice? |
| So heres my big issue. My husband and I moved to this place in the state of WI while we find a place to buy. We finally found a place that we want. Our landlord wont a even accept the 30 day knotice ... |
|
 My daughter was given a 30 day notice to vacate the apartment. They don't want to renew. Pay rent or not????? |
| They said that they don't have to tell her why they don't want to renew. That sucks because she was given only 30 days. Is there a law to protect the renter. 30 days is not enough notice.... |
|
 I'm consedering renting to a Section 8 tenant - any words of wisdom? |
| I've good & bad about section 8. Some people say it gaurantees a responsible renter, others say it's more trouble than it's worth. Has anyone dealt with this?... |
|
 Getting pre-approved for a home....? |
| im 23 and pre approved for a home with my dad for $560k HOWEVER, is it possible for me to get pre approved on my own? maybe with co signer??? my credit score is in the high 600's???... |
|
 Are the larger and VERY expensive estate agents the best? |
| I want to sell my business. Some estate agents are really expensive. Is it justified to pay so much in charges or would a smaller estate agent be just as good if the business is worth buying?... |
|
 Can I get a stated income loan with a rating of 710 w/ 10% down and $6000 in student loans still unpaid? |
| What do I need to take care of before I try to get prequalified? What will they ask me? Should I try to pay off the student loan first? Credit cards are paid off, no car loan, nothing else. This ... |
|
 Joint mortgage? |
hi
there is not enough equity in our home for my ex to give me the sum of money he promised he would.
As he promised me a sum of money, i had put in an offer for a new house, with me ... |
|
 Is a 5yr interest only home loan a bad idea for a 1st time buyer? |
| I'm in the home market and do not have 20k to place down on a home, nor do I make 150k a year. Would a interest only loan for 5yrs be a bad idea? At that point I could re fi after 5 yrs for a 30 ... |
|
| Advice on taking on a 100 year old house? |
| My husband and I may have a chance to take on my former marital home from my ex-husband since he stopped paying the mortgage and my name is legally still on it. It is not in a great area, and he has ... |
|
|  |
streamthree | Did greedy white investors take advantage of minorities in selling them homes financed through subprime loans? |
|
 |
 
trblmkr30
 |
First of all, that's racist. If you really are thinking that way, you're not going to go far in life, mostly due to your thinking that you're entitled to some sort of compensation for everything you believe was taken from you.
That being said, no one took advantage of anyone else. Sub prime loans filled a void and allowed many, many people to purchase homes who otherwise wouldn't have been able to do so.
The buyers sought out a loan to buy a home, and these are what came up as available. Some have been foreclosed upon, others have not. Were the loans riskier - yes, and that's why they had a higher interest rate. I believe that some people were not fully informed as to what would happen if they didn't refinance or change their savings habits before any adjustment period, but many were informed and just left it until "tomorrow." Well, tomorrow came and they weren't ready.
To blame this on one specific race is just horrible - you should be ashamed of yourself. ALL people are being foreclosed upon. |
|
src50
 |
Here we go, the "victimology" fuzzy-think starts again. Ridiculous. |
|
jimmy dean
 |
The foreclosure rate for subprime loans is about 1 out of 5. Why don't you go ask the 4 out of 5 homeowners that are making their payments and living in a home they would have never been in without a subprime loan if they were taken advantage of by the MAN!
Jerk! |
|
tom bailey
|
Investors likely did none of the selling mortgage brokers did. |
|
donald e
|
no,its not just a race issue, this was done to young, old, and minorities, and most surprisingly of all u would be surprised at how many wealthy and well off professional people white and black have been take in by mortgage brokers, i am talking doctors, dentist, lawyers, school teachers, who have no clue what an arm, adjustable rate mortgage, pay option arm mortgage, interest only mortgage is. unfortunately we do not teach mortgage financing in school, and 90% of america does not have a clue as to what an amoritzation schedule is and how it works, let alone know the difference between interest rate an annual percentage rate. most lawyers know nothing about finance, and couldnt tell you what a prepayment penalty is or the term. Think they know what a libor rate is and how the arm is tied to it with an adjustment rate of 2-6% over the libor(stands for london index base orgination rate) did u now that u.s., financing for arms is tied to the english rate, lol i am serious about this ) and it adjusts every day. now you have a mortgage that goes up over and above the libor rate and your mortgage can adjust every 6 months, year ,2 years ,3 years, 5 years or 7 or 10. i have seen folks with excellent credit sold a pay option arm rate were they made minimum payments thinking they were paying peanuts because of their excellent credit never realizing that the difference between the minumum payment and the real payment was being added back to their principal monthly, and that they owed more after a year than they originally borrowed, yes i educated them and got them out of that immediately, dishonest appraisers who are independent contractors but getting their leads from mortgage brokers who were force to bring in higher than acutal value inorder to refinance properties and if it didnt work the first time being told to go and redo the appraisal, i could go on for hours, but a race issue no, the mortgage brokers took advantage of everyone without discrimination as long as there was a buck to be made, AND YES THE GOVERNMENT NEEDS TO STEP IN A HANDLE THIS. PARTING WORD IF YOU ARE DOING A MORTGAGE GO TO A LOCAL BANK, AND GET EDUCATED ABOUT THE BIGGEST INVESTMENT MOST PEOPLE MAKE IN A LIFETIME. |
|
Paul K
|
No they took advantage all people, white people lost their homes also. They did it to people with bad credit |
|
ziffel12
 |
Read and get advise on what probably is your biggest investment in your life.
Stop blame'in others, be responsible for your personal decisions.
You can alway's say NO to whatever your possibly investing in, before you sign any agreement contract.
If you buy a car you really can't afford and lose it after so many months do you blame white people for that too? |
|
John S
 |
the mortgage industry brought this fiasco upon itself by approving and buying loans with outrageous debt-to-income ratios. yes, i agree that those folks with poor credit in the past (nothing recent) should be given the chance to take part in the American Dream and own a home, but the folks who were buying more than they could afford should not have been approved.
some of the greedy real estate agents were part of the problem as well. i was told by more than one real estate agent that "if you can't get them approved i will take them to someone who will". they wanted to line their pockets with bigger commissions rather than getting their buyers into a home that they could afford and meet their other obligations.....such as utility bills, auto payments, groceries, etc. |
|
Patrick
 |
as with anything in life, there are a couple rules to follow in making a business transaction.
1 - never sign anything that is not completely filled out
2 - understand fully what it is you are signing
Those 2 simple rules would have helped many of the people who were taken advantage of by the mortgage industry, and yes, there were some.
For the rest, I feel that if they knew what they were getting in to and betting on appreciation of the house to help them refinance into a fixed rate mortgage at a later date ...well... the problem with betting is that sometimes you win, sometimes you lose. That's why it's a gamble. They were one the losing end of the gamble this time. |
|
Mortgage Man
|
You're a moron for thinking race had anything to do with it. It had to deal with people buying homes they really couldn't afford. Its not the investors, real estate brokers, or mortgage brokers fault. Its the people who bought homes they couldn't afford. Then they needed someone to blame when they couldn't refinance out of a high rate because they didn't make payments on time. No one is going to reward you for missing mortgage payments. If you can't afford the payments, you don't deserve the house you live in. Stop using race as an excuse, and start getting educated. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
7 | 36 minutes(s) ago
| | | |
10 | 48 minutes(s) ago
| | | |
10 | 3 hour(s) ago
| | | |
10 | 7 hour(s) ago
| | | |
10 | 10 hour(s) ago
| | | |
10 | 11 hour(s) ago
| | | |
11 | 2 day(s) ago
| | | |
10 | 5 day(s) ago
| | | |
10 | 2 week(s) ago
| | | |
10 | 1 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
