Mortgage Videos

Cubicleboy04 (July 29th, 2008 @ 4:03 pm)

Well, see you on capital hill...

stinkypoon (June 28th, 2008 @ 10:49 am)

I swear, if there is a bailout, I'm going to march up to capital hill.

Fredzep2k (April 27th, 2008 @ 7:04 pm)

Stated Income is essential for Self Employed Borrowers. Anyone who understands self employment writes off everything they can and pays themself as little as possible W2 money to minimize taxes. These folks may be more than qualified for X mortgage.

nesnman (April 25th, 2008 @ 9:06 am)

People who use subprime loans already are a credit risk. I own both of my homes and I'm doing great. But I keep my cars for at leasts 10 years and I don't have any debt.

nesnman (April 9th, 2008 @ 5:23 am)

Do you want a medal for being an a hole? I'm sure you already have plenty.

georgewtwat (April 9th, 2008 @ 12:01 am)

Do you want a medal?

Nin1963 (April 7th, 2008 @ 10:05 am)

Absolutely they both were. And, we have to recognize that a complete hands off of these banks and these new products is a no no. We must have a healthy balance between some regulation (let's face it, if we left every business do whatever the hell they wanted, we would all be dead from toxic air and water) and pro business to support growth. But we MUST have oversight.

JohnR22926 (April 7th, 2008 @ 9:58 am)

Fair enough. I don't disagree with any of this. Lets also acknowledge that both Reps and Dems were all in favor of expanding home ownership...for legitimate social and economic reasons. One more example of govt "good intentions" resulting in unintended consequences.

Nin1963 (April 7th, 2008 @ 7:10 am)

People on both sides of this need to step up and take responsibility. However, when the feds gave a nod to the risky loans by getting rid of oversight state by state (thanks lending lobby) and targeted low income (who by the way 50% of them would have qual. for FHA loans), the govt providing no regulation at all with these new banking products that were untested, bundling with other investments...it's a mess sponsored in part by Bushco. Fact.

JohnR22926 (April 7th, 2008 @ 6:20 am)

"Predatory lenders" is PC lingo designed to put the onus on "the bankers/capitalists". Many banks threw caution to the wind and gave mortgages to people that clearly couldn't afford them in the long run. The banks should suffer the consequences by absorbing the losses. Once burned, twice learned. The people that signed these mortgages were a combination of greedy and stupid. Greedy because they bought more house than they could afford. Stupid because any idiot KNEW rates would eventually go up.

Nin1963 (March 21st, 2008 @ 6:34 am)

Bush tapped an obscure federal agency created during the Civil War called the Office of the Comptroller of the Currency. "In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act preempting all state predatory lending laws, thereby rendering them inoperative, "The federal government's actions were so egregious ... that all 50 state attorneys general, and all 50 state banking superintendents, actively fought the new rules."

Nin1963 (March 21st, 2008 @ 6:33 am)

Bushco was complicit in this mess. How many times during the last 8 years has Mr Bush talked about the "economy" as strong and pointed to housing numbers to assert this claim? Lot's. It was all an illusion. Keep the masses thinking they are better off while the country's economy tips closer to the cliff in order to advance as many changes to law as possible, completely politicize the DOJ and govt and head for Republican hegemony.