 What can I do if my house is actually smaller than what it was listed as when I bought it? |
| My wife and I bought our house 2 years ago. It was listed at 1371 sq. ft. (also what the county has on record). Now we are trying to refinance to get out of our arm loan. Come to find out the house ... |
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 Mortgage problem please help? |
| I would like to known about the new program from the government that going to help to people with mortgage problem.my problem that I have is that I am behind six payments and my question is if that ... |
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| A few months ago I was trying to buy a home but the lender could'nt come thru with my loan in time ant now I'm out of my 2000.00 deposit.I think this is fraud. What government agency do I ... |
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| We moved into our house a little over a year ago, our landlord says she is selling our house. This is fine, but the questions I have are we obligated to let her show the house for future buyer while ... |
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 What would happen? |
What would happen if i moved into an apartment that doesn't allow animals, but i keep my cat and move her in with me?
The only place i can afford right now is one that doesn't accept ... |
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| Is a pool desirable in looking for a new house? |
| I always thought that having an inground pool was a good thing and would up the resale value of a home. I recently saw an episode of "double agents" on tv where a couple was having trouble ... |
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| went to wisconsin on the 30th of dec..called my landlady from my neighbors informed them i would be gone and going to see drs..that i may be gone 2 weeks.maybe 2 months or longer.as it depends on if ... |
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 Which is a better investment - Motor Home or Summer Home? |
| Can you tell me which is a better investment. Purchasing a nice 40 foot RV, which could be rented out for weekend trips or buying a summer home and renting it out. Can you give the pros and cons on ... |
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 Is a 7% APR on a 30 year fixed rate mortgage for a $137k house a good rate in Atlanta, GA? |
| I'm a first time homebuyer, so I'm not quite sure... It seems comparable, but I would appreciate any feedback...... |
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 I will be moving out of my friend girls place on the 16th of dec: do i still pay the full amt of rent? |
| i mean i will be moving out and she set a pmt of 200.00 a month. the first month was last month and i paid the 200 but now this is dec and i am moving out on the 16th so should i still pay the full 20... |
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 I would like to buy a house in 5 years? |
| How much should I be saving? a month I am a student at the moment!... |
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 Renting vs buying a home or condo/townhouse? |
| I will be moving to Michigan soon, and am not sure if buying is better than renting. I will be 62 at the time I move, and plan to retire and work part-... |
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 Ohio foreclosure? please help? |
| can someone please give me a timeline? our last payment was due on march 15th.our mortgage is with chase bank.my husband lost his job and theres no way we can pay for this house.i just want to know ... |
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 If I put my name on a lease agreement with someone else, is our credit linked? |
| I need to get a roommate cause i can't afford rent. When they put their name on the lease, will their credit history be linked to mine?... |
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| Best place to get a mortgage refinanaced? |
| Want to refinance home for cheaper interest rate. any ideas?... |
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landeal | Subprime lenders were being the GOOD guys. It's the borrower who shouldn't have taken the money, RIGHT |
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NYC_Since_the_90s
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The subprime people were taking chances on losing their money. There were some bad ones that lied and when they resold the mortgages the next person got screwed. Borrowers should know better. We cannot protect people from themselves. If they tried, then people would complain that the government was too controlling. |
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bostonianinmo
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You're living in a hovel of an inner-city apartment and along comes this "smiling face" that promises you The American Dream. Are you going to be suckered in? I'll bet a month's salary that you will.
Unless you've been in that situation (I have) you can't appreciate the tactics that those slimeballs use. Then they (the lenders) run crying "foul" to the government looking for a handout to bail them out.
Thankfully few of these loans were government-backed so the taxpayers won't be footing the bill for corporate greed this time. |
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peapod_mommy
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Not ALL subprime lenders are the "good guys" I would love to say they were but it's just the facts. They are the professionals who put people into bad bad BAD loans. Loans that didn't make sense and loans that people couldn't afford. This is WHY our market is doing what it's doing. All these foreclosures, etc. I think it's great though......its gonna weed out the bad and keep the good guy around. =0) |
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knight2001us
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I wouldn't go as far as to say the lenders were being good, but I do agree that the borrowers should have done their homework... |
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Janet P
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What planet are you talking about?
The borrows were fools, but the sub-prime people knew better. Nothing good about them.
Lisa, I have seen a "forced" sign before. "the loan is only guerenteed until mid-night" "there are two more buyers lined up, if you don't sign today you will not get this house".
This was my BF. SHe is educated, Masters degree, and I thought she trusted me, and I was clear, THEY ARE SCUM, DO NOT SIGN THIS LOAN. Very high pressure and she signed. Now I have to help her out of the mess that I tried very hard to keep her from getting into in the first place. |
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boston857
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Absolutely! There are of course some who stooped to predatory lending but for the most part, everyone wanted to make a buck off the real estate wave. There are many lenders that are going to be hit just as hard by the foreclosures not to mention the effect on Wall street...... |
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novastarbanker
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Not necessarily. There are a lot of brokers out there who knew what the clients couldn't actually afford the loan, but closed them anyway because the "stated" income made it look to the underwriter that the borrower could pay the loan back. That is why they are called "Liar Loans". If you wanted a house, and someone told you they could get you in by overstating your income and gave you an adjustable rate for the first couple of years that fit your budget, you would probably say "Great" until the rate started to adjust and then you have problems keeping up with the payments, and you go into default and then foreclosure. The blame is really on Brokers and Borrowers alike. Everyone needs to be educated for the long term effects these loans have. |
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Bubba S
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I'm a firm believer in personal responsibility. Unless someone uses force or deception, any ****-hole you dug yourself into, is your own responsibility.
That may sound harsh, but where does it end? Do I shoulder no responsibility if I commit robbery and then try to put the blame on my mother for not giving me enough hugs?
If I default on my loan, it was because I screwed up. Not because the bank was trying help a guy out to live the American Dream. The bank is the good guy here.
I am so frigging irritated by folks blaming someone else for situations their own actions put them it.
As a wise man once said, come down off your cross, build a bridge from the wood, and GET OVER IT.
Oh. And for those who blame the lender for using phrases such as, "Sign in the next two hours, or the offer expires at midnight.". ... Who the hell forced you to move from your apartment? Who pressed the muzzle of a loaded .45 to your temple and made you live in a house? Are you really trying to get us to believe that you didn't really want to live in a house, that the lender forced you to?
Live in a apartment until you can save 20%, then you'll get the good rates. Stop whining, dammit!! |
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Lisa A
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Let me know of a case when a subprime lender had a gun to a borrower's head and forced them to sign a mortgage they couldn't afford. Then I will feel sorry for that borrower.
I agree that subprime lenders are scum though. I wouldn't do business with one. There are a huge number of "conventional" lenders I wouldn't do business with either due to their tricks and double talk.
As far as more regulations, or putting the scum in jail, well, it's not the governments job to protect the citizens from their own stupidity, and I don't see any crimes that have committed. Being scummy isn't illegal. |
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