The Mortgage Crisis: Responsible Borrowers

In the wake of the government take over of mortgage giants Fannie Mae and Freddie Mac, John Taylor, President/CEO of the National Community Reinvestment Coalition talks about how responsible borrowers are being hurt by the mortgage crisis.. (Sept. 10)

Category:

News & Politics

Tags:

• mortgage
• responsible_borrowers
• 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.

[37361811]

HOME OWER!! YOUR SO RIGHT!!

[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

[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]

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.

[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?

[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.