The Mortgage Crisis: Responsible Borrowers

[caganb]

Real estate never goes down

[MrMortgage1]

if you keep up to date on developments and whats around in the market, you don't just have to endure your mortgage, you can master it.

masterthemortgage. com

Take a look and see what's available, you might be pretty surprised. at the very worst you find out you already have the best situation you can.

[creates100]

It is not just the fault of the subprime borrowers. The investment banks on Wall Street and in Europe created all kinds of risky products such as the credit fault swaps. These are nothing more gambling casinos. Their greed is also a cause of this. Despite all of this people forget that houses are still well above what they were ten years ago. Keep in mind that "homeowner" is a false term. A homeowner owns. NOT OWES. these are home OWERS or BORROWERS. you dont own it until 15 or 30 years are up

[37361811]

HOME OWER!! YOUR SO RIGHT!!

[mannyfeseha]

thehelpfund.blogspot

[NoSocialistAmerica]

This whole crisis is a result of Democrats and fellow travelers. It was a demand by the Democrats that mortgage loans be made to high risk borrowers as a matter of fairness, and HUD regulations demanded that banks be more aggressive in lending subprime. I remember reading in my Realtor magazine HUD`s reasoning-since landlords didn`t want to participate in the Section 8 program, Housing and Urban Development would emphasize homeloans to the poor instead.

[Yourdeadmeat69]

We need a nationwide mortgage STRIKE to get banks back in the lending business. Banks, in wake of bailout, are now opportunistically coming after good people by tightening loans, essentially, stop being banks, holding a gun to our heads.

Well we can stop paying banks, and start our own strike. It won't be everybody, but it'll send a wakeup call to banks everywhere, sometimes the carrion isn't dead, and they'll fight the vultures off.

W

[toobin247]

All the subprime borrowers saw the dollar signs, signed some papers for a great three year loan they were going to refinance before their mortgage doubled, because the sky was the limit. Sign a few papers again at the lower rate, take some cash out, or just flip the damn house. Nice try. Now we're all screwed. Yeah the banks were at fault too of course, and so was the govt. But too many "responsible" borrowers were a little too greedy to realize this was going to result and didn't oppose it?

[toobin247]

We were all fat and happy when prices climbed like a rocket, but now that party is over. Droves of people emailing and calling senators and congressmen opposing the bailout now. Ridiculous! Where were all of you when your homes were going up 30% a month? Couldn't you see this coming? Why was there no emailing and calling then? And by the way, I include myself in this problem. Let's at least learn from all this greed while we try to repair the damage.

[t4705mb6]

If you want a good understanding of this mess:

Google: THIS AMERICAN LIFE

Search: #355: THE GIANT POOL OF MONEY

If you listen to the whole hour you will find out how the banks pulled this off...from insiders.

[HRMOKeefe]

The Financial Crisis explained in one sentence:

Community Activism (Community Redevelopment Act of 1977 and 1995 revisions ; forces banks to loan money to non qualified buyers) meets Government Fiat (Oxley Sarbanes Act of 2002 which forces the banks and insurance companies to price their portfolios at the market every quarter, thanks to Enron) equals Financial Crisis

The Financial Crisis explained in one sentence, only remaining question is; was it un- intended?

[avewetilur]

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[ryanshaunkelly]

Sunday Bloody Sunday

The Wall Street Shuffle

ralph DR RON cynthia

What have they done to the earth?

What have they done to our fair sister?

Ravaged & plundered & ripped her & bit her

Stuck her with knives in the side of the dawn

& tied her with fences &

Dragged her down!

mike dennis jesse ross

[LU29UN99]

no more america dream homes. no more home sweet home.

[officialusa]

this is bullshit. Our taxes are going to pay for foreclosed home loans we did not apply for.

No outrage from the main stream media or presidential candidates?

[EasyEs]

Agreed why on earth are Americans putting up with this. The cost of this will make 100 Enron's look welcome. I am sorry but people either A bought homes with the inent to flip them and lost money or b. Spent way more money on a home than wise.

[crazycatfguy]

Your tax money is going to socialize losses to business just like the S&L disaster of the 80's because our government is owned by corporations and don't get money from them for campaigns if they try to regulate corporations.

[fahs]

Good post. Now the same politicians that got us in the mess will try to fix it. Insane.