Home Foreclosures ABC12
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Moving Saginaw Forward—ABC12 Interview—July 24 2007by MovingSaginawForward234 views- 2:22
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Every one i talk to says forclosures are an issue, but noone has commented on this. The requirments have not changed at all to get the mortgages, but the credit score standards have. This will really change the realestate market wide. It will have devastating concenquences on our econimy in 6months to a year. That being when most likely a demicrat will just get into office brings up terrible intentions.
grudgekeeper 4 years ago
This making the people that were on subprime loans that were say at 8 percent for 2 years and then would bump upto the 12 or 13. Normally they make all current payments and refi after 2 years and get a better rate. With the changes this year, they cant refi now because the new reports kill their credit. Then ofcorse they forclose..
grudgekeeper 4 years ago
Econimy sucks, but theres a bigger issue. The credit report laws changed in jan/feb.. Creditors can now report chargeoffs from 10/15/20 years ago monthly as if they are current. It used to be only a 2 year lookback on your report, now the ability to for them to report them monthly as current, they are showing up on the 2year report.
grudgekeeper 4 years ago