subprime failure…
It should come a no surprise at the failure of the subprime lenders. These lenders new that they were is a precarious position, as their clients were put into a positon that was not sustainable. Any increase in day-to-day expenses would delay mortgage payments, as this is the biggest expense most families have. One payment gets delayed, then another. It’s unfortunate, but that’s business. There is no difference between this and the junk bond debacle of some years ago.
Betting on people with bad credit will burn you everytime. EVERYTIME!!! Mortgage brokers and mortgage bankers are not bound by the same ethics as securities broker/dealers. Even though false statements made on a mortgage application are felonious, people could care less. As long as they get what they want.
If someone has to fudge the numbers to get a loan, I would not give them that loan.
Myself and my associates have six steps to financial freedom. If lockergnome ever gets me that login, I would like to share them with you. : )
Business : Comments (0) : posted Apr 4th, 2007 by blaster
