Before the era of securitization, the only reason for making riskier loans was that the lender could charge a premium for borrowing — a premium that would cover the higher cost associated with defaulting loans. Now the reason is that the higher the risk, the more the Investment Bank makes and the more the mortgage broker makes …
Housing Bust 2? Low- and No-Down-Payment Mortgages Surge, “Shadow Banks” Dominate Some of the same characters that played leading roles last time. The value of the US housing market has ballooned to $26 trillion. In many markets, prices exceed even the peak or the prior bubble that blew up so spectacularly. This construct is …
Housing Bust 2? Subprime No-Down-Payment Mortgages Surge, “Shadow Banks” Dominate Read More »
I know it doesn’t make sense. Why would a lender falsify documents in order to make a loan? I had a case in which a major regional bank had their loan representatives falsify loan documents by having the borrower certify that there were houses on his two vacant lots. The bank swore up and down …
What’s the Next Step? Consult with Neil Garfield CHECK OUT OUR NOVEMBER SPECIAL For assistance with presenting a case for wrongful foreclosure, please call 520-405-1688, customer service, who will put you in touch with an attorney in the states of Florida, California, Ohio, and Nevada. (NOTE: Chapter 11 may be easier than you think). Editors’ …
Banks Keep Winning, But Borrowers Are Picking Up the Pace Read More »
With the Obama administration and private lenders actively considering mortgage-principal-reduction programs to help financially distressed homeowners, the Internal Revenue Service has issued an advisory to taxpayers who receive — or seek to receive — such assistance if it’s offered. Editor’s Note: The only thing I would add to this, for the moment, is that any …
And probably people “of the cloth” from all denominations. We are a nation of faith. Jesus angrily drove the money lenders out of the temple. How can we stand by and allow the borrowers to be driven out of their homes? The fact is most of these victims were hunted down like a foxhunt, with …
