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oookaaay. So how about, capital gains is that not income to you?
Capital gains tax revenue to the federal government under Bush DOUBLED. Whats your point?
Quote:
Originally Posted by HC475
Well... why's it happening then?... why all the sub-prime lending?...
Sub prime lending took off in the mid 1990's..
Why? Because the GOVERNMENT is guaranteeing them so the banks dont care..
The buyers are getting the home they cant afford, albeit it for 3-5 years, so they dont care..
Capital gains tax revenue to the federal government under Bush DOUBLED. Whats your point?
Sub prime lending took off in the mid 1990's..
Why? Because the GOVERNMENT is guaranteeing them so the banks dont care..
The buyers are getting the home they cant afford, albeit it for 3-5 years, so they dont care..
See, everyone is happy!!..
Sub-prime didnt' even exist until after 2000... stop your lies...
Sub-prime didnt' even exist until after 2000... stop your lies...
In 1998, the Federal Trade Commission estimated that 10% of new-car
financing in the US was provided by sub-prime loans, and that $125 billion of
$859 billion total mortgage dollars were sub-prime.
In 1998, the Federal Trade Commission estimated that 10% of new-car
financing in the US was provided by sub-prime loans, and that $125 billion of
$859 billion total mortgage dollars were sub-prime.
If that were true the mortgage meltdown would have started a lot sooner... not 8 years...
Sub-prime didnt' even exist until after 2000... stop your lies...
grow up dude...and go back to school
Giving Credit Where Credit Was Denied
By DENNIS HEVESI
Published: June 8, 1997
It is a shift for the industry that dovetails fortuitously with efforts by banks to comply with Federal mandates that they support what is officially termed affordable housing within their communities -- a movement that has helped spur the revitalization of stretches of blocks in neighborhoods that otherwise remain distressed.
And it is also a shift that, by definition, is fraught with increased risk. Studies indicate that the move toward what the industry refers to as ''subprime'' lending leads, not surprisingly, to a degree of increased delinquency. Part of this additional risk is offset by having subprime borrowers pay somewhat higher mortgage rates.
For 1-year, adjustable-rate mortgages, according to the HSH survey, the national average was 5.8 percent in January and 6.06 percent last month. But those rates may be a bit misleading. Adjustable-rate mortgages, or ARMs, initially offer low rates for a set number of years -- as a sort of enticement -- after which the rates may rise steeply. Customers who choose any of a variety of ARMs usually try to mesh predictions of their housing needs, perhaps estimating that they will move in six years, with the types of loans offered.
''We've created new products for people who have glitches, hairy credit,'' said Abe Eisner, executive vice president of GFI. ''No-doc means all we need is your name, address and Social Security number, depending on your credit history.''
GFI is a barometer for the industry; its subprime lending currently represents about 25 percent of the company's business. Two years ago, it was 10 percent.
''We geared up with staff that specializes in subprime lending,'' Mr. Eisner said. ''It's a different mentality, different guidelines; almost like two separate companies.''
Even if a borrower is out of work, but has a very good credit history, ''all he has to do is put down 10 percent of the purchase price and we will lend as much as 90 percent,'' Mr. Eisner said. ''For that type of product, today's rate would be 8.875, with one point.'' For someone with a lower credit rating, the rate could rise to 10.98 percent with two points and 30 percent down.
grow up dude...and go back to school
so who is the liar???????
The subprime bubble burst of 2006 was from different kinds of loans... Bush enabled the subprime frenzy by not regulating the banks... a lot of no money down loans and such... Bush put us in this mess... undeniable...
Why do you think there is a current moratorium on foreclosures?... to make sure there's full disclosure and that they're not being rushed...
I think it's another form of bailout for irresponsible people. What do you think about it? Right- you tink what people say in google videos is correct.
The subprime bubble burst of 2006 was from different kinds of loans... Bush enabled the subprime frenzy by not regulating the banks... a lot of no money down loans and such... Bush put us in this mess... undeniable...
Astonishing, it has been demonstrated time and again that sub prime loans were a result of th CRA, well before Bush was in office. So, since you are an expert in sub prime loans, please enlighten us. What regulations did Bush ignore. Surely since it is undeniable you should be able to provide mountains of evidence. LOL. If you do it would be the first time!
Sub-prime didnt' even exist until after 2000... stop your lies...
Have you ever heard of Champion Mortgage? Their business was entirely sub prime lending. I worked for them in 1998 and they were in business for almost 20 years at that point.
How many people can remember their commercials? "When your bank says No Champion says Yes!"
Feel free to quit while you're behind
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