I agree with what you are saying for the most part but I think you have it a little backwards. I think if a person makes $40K a year they should buy a house that they can afford. Not take $300K and make it affordable for the $40K income.
If I remember correctly. Even asshole Bush said everyone deserves to own a home. I agree. Home prices should be adjusted to an individuals income. I don’t care how nice the home is. As long as that individual(s) are law abiding citizens, and works hard. These types of people should always be able to be sold a home. For example. If a home cost 300k, and a person makes 40k, then the loan should be fixed to where the person can afford the mortage comfortably.
Well lets close all the banks and go back to everyone paying cash for their homes. That should make you happy. Still all you can come up with are insults and no valid rebuttal. Get an education before you speak. You sound like a disgruntled homeowner that didn’t pay your mortgage and got foreclosed on. Sorry to hear that but if you were more responsible then it wouldn’t have happened. I am certainly NOT a predatory lender and look out for my clients best interests.
You haven’t said one thing that shows you belong in that 2 week business you just began. All US banks are based on speculation. Which is why the US can run a country on trillions of dollars of debt. You speak as if banks can’t just do what they want to and haven’t been. For the most part banks are predatory lenders, but legally they’re ok. Why should you be listened to when you are in conflict of interest because you are SELLING mortgages. A fool would agree w/ you. You predator! Hide ur house!
LOL! You’re just to comical. You obviously have no clue what you are talking about and rather than be able to actually debate what I said with something intelligent you just bash me personally. You obviously have no idea what drives rates or why they change. Rates can go up OR DOWN at any given time. EVERY bank is like that. So does that mean EVERY bank is a predatory lender? Again learn what you are talking about before you remove all doubt that you don’t know what you are talking about.
shouldn’t you be online working for GTS=Get the Suckers given you are under a professional title instead having a debate with someone who is using their free time informing you of something you should actually know? Paradoxical, huh? The interest rates of predatory lenders can go up w/out notice, even banks inform you that they can do the same. Anyone ever read that their bank can make changes WITHOUT NOTICE. Well, that includes interest rates. Those are predators. New profession!!!!
I signed up a few weeks ago. You are further showing your ignorance with your reply. There are predatory lenders out there but that’s only a small part of it. Bottom line in the vast majority of cases people bit off more than they could chew. The money was offered so they took it even though they knew they couldn’t make the payments. Now go learn what you’re talking about and grow up. Remember it’s better to remain silent and be thought a fool than to speak out and remove all doubt.
Funny how you just signed up for youtube b4 commenting on me. Ever heard of loan sharks? predatory lenders? well, the legislator I worked for sponsored the law that regulated lending practices in NYS in 2006. It’s very real. Either way, capitalism doesn’t work, because if you need the gov’t to bail out the richest companies (BANKS!!) then you have a failed CAPITAL system. btw, your company sucks. “GTS” = “GET THE SUCKERS”. Yep.
I’d say you’re mostly right here. A couple points, brokers don’t sell loans then sell them to the bank. They facillitate the loan to the bank. The banks did loosen guidelines but it also had a lot to do with Clinton wanting to make owning a house available to everyone and putting things in motion to make this happen this lead to a huge inflation of borrowers that has now severely constricted and here we are.
When it comes down to it, yeah people didn’t make their payments. They bit of fmore than they could chew. It had a LOT less to do with rates going up than it did with people not making payments, therefore the programs they could refi into weren’t available then they were stuck. I’d say this video is 90% correct. Have you heard of No Doc loans? Yes people COULD get a loan with no job. I know a couple who did. Before you start telling people how ignorant they are you might look in the mirror.
Essentially, what you’re saying is that because people who didn’t have jobs were given mortgages and then defaulted they caused the subprime mortgage crisis? Hmm…Do you know what you’re talking about? Waht are your qualifications besides you did a vid on youtube? This is exactly how ignorance is spread. You didn’t even speak about mortgage rates going up unexpectedly! And NO broker ever gives out loans to people with no job. Funny as heck. But, insanely dangerous and ludicrous video.
And why did anybody get a mortgage they couldn’t afford? Because the federal government removed the Risk by insuring the loans. Therefore all of these companies that give out loans did not have to deal with risky loans because they weren’t on the hook when the loans went bad therefore they just gave out loans left and right. If the government meddle with the housing market, the bubbly wouldn’t have been started.
This guy is so wrong its not even funny. When the federal reserve lowered intrests after 911 to jump start the economy which sank into recession, the restriction on borrowing became lacked. As the money supply increased and interest rates dropped the commodity of money became easier to get through mortgages. Usually subprime mortgages required bigger down payments, higher interest rates as a way to protect the lender if the loan went bad. That wasn’t the case this time around.
uh wrong.. do some research. That idiot president Carter signed the community reinvestment act and Clinton issued heavy regulations that tracked sub prime loans and rated banks accordingly. Then congress passed laws mandating GSEs to buy up bad loans and the treasury dept established a fund to give banks tax dollars for more bad loans. The FED helped screw things up with bombing interest rates to almost nothing. Most of this mess was caused by GOVERNMENT.
I’m a senior in college sitting in front of a packet of powerpoint slides for my investment management class. The diagrams in this video with Scrooge McDuck and stick figures are almost identical to what I pay $20,000 a year to read. Bravo.
I think this video is good but it’s only telling half the story. What about how government through its failed policies was the primary source and accomadated the credit crises.
youre a dumb ass yes they have control they open the gates so to speak. thats why they say it’s everyones fault but really it’s the people who open the gates. remember the zero down while that was bills idea.
uh wrong - the greedy banks let this happen. They are PRIVATE business. They are responsible for giving loans to people THEY feel can pay them back - they didn’t. They got f**ked. And so did we all.
Growth Hormone
I agree with what you are saying for the most part but I think you have it a little backwards. I think if a person makes $40K a year they should buy a house that they can afford. Not take $300K and make it affordable for the $40K income.
Training a Puppy
If I remember correctly. Even asshole Bush said everyone deserves to own a home. I agree. Home prices should be adjusted to an individuals income. I don’t care how nice the home is. As long as that individual(s) are law abiding citizens, and works hard. These types of people should always be able to be sold a home. For example. If a home cost 300k, and a person makes 40k, then the loan should be fixed to where the person can afford the mortage comfortably.
Cycling Sunglasses
Well lets close all the banks and go back to everyone paying cash for their homes. That should make you happy. Still all you can come up with are insults and no valid rebuttal. Get an education before you speak. You sound like a disgruntled homeowner that didn’t pay your mortgage and got foreclosed on. Sorry to hear that but if you were more responsible then it wouldn’t have happened. I am certainly NOT a predatory lender and look out for my clients best interests.
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You haven’t said one thing that shows you belong in that 2 week business you just began. All US banks are based on speculation. Which is why the US can run a country on trillions of dollars of debt. You speak as if banks can’t just do what they want to and haven’t been. For the most part banks are predatory lenders, but legally they’re ok. Why should you be listened to when you are in conflict of interest because you are SELLING mortgages. A fool would agree w/ you. You predator! Hide ur house!
Home Theater Systems
LOL! You’re just to comical. You obviously have no clue what you are talking about and rather than be able to actually debate what I said with something intelligent you just bash me personally. You obviously have no idea what drives rates or why they change. Rates can go up OR DOWN at any given time. EVERY bank is like that. So does that mean EVERY bank is a predatory lender? Again learn what you are talking about before you remove all doubt that you don’t know what you are talking about.
Positive Dog Training
shouldn’t you be online working for GTS=Get the Suckers given you are under a professional title instead having a debate with someone who is using their free time informing you of something you should actually know? Paradoxical, huh? The interest rates of predatory lenders can go up w/out notice, even banks inform you that they can do the same. Anyone ever read that their bank can make changes WITHOUT NOTICE. Well, that includes interest rates. Those are predators. New profession!!!!
Best Wine Gifts
I signed up a few weeks ago. You are further showing your ignorance with your reply. There are predatory lenders out there but that’s only a small part of it. Bottom line in the vast majority of cases people bit off more than they could chew. The money was offered so they took it even though they knew they couldn’t make the payments. Now go learn what you’re talking about and grow up. Remember it’s better to remain silent and be thought a fool than to speak out and remove all doubt.
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Funny how you just signed up for youtube b4 commenting on me. Ever heard of loan sharks? predatory lenders? well, the legislator I worked for sponsored the law that regulated lending practices in NYS in 2006. It’s very real. Either way, capitalism doesn’t work, because if you need the gov’t to bail out the richest companies (BANKS!!) then you have a failed CAPITAL system. btw, your company sucks. “GTS” = “GET THE SUCKERS”. Yep.
Home Theater Furniture
I’d say you’re mostly right here. A couple points, brokers don’t sell loans then sell them to the bank. They facillitate the loan to the bank. The banks did loosen guidelines but it also had a lot to do with Clinton wanting to make owning a house available to everyone and putting things in motion to make this happen this lead to a huge inflation of borrowers that has now severely constricted and here we are.
Women Hormone
When it comes down to it, yeah people didn’t make their payments. They bit of fmore than they could chew. It had a LOT less to do with rates going up than it did with people not making payments, therefore the programs they could refi into weren’t available then they were stuck. I’d say this video is 90% correct. Have you heard of No Doc loans? Yes people COULD get a loan with no job. I know a couple who did. Before you start telling people how ignorant they are you might look in the mirror.
Female Hormone
Essentially, what you’re saying is that because people who didn’t have jobs were given mortgages and then defaulted they caused the subprime mortgage crisis? Hmm…Do you know what you’re talking about? Waht are your qualifications besides you did a vid on youtube? This is exactly how ignorance is spread. You didn’t even speak about mortgage rates going up unexpectedly! And NO broker ever gives out loans to people with no job. Funny as heck. But, insanely dangerous and ludicrous video.
Make Friends
TOO MANY FINGERS ON ALAN GREENSPAN. That was creepy. This video does a great job of helping make sense of things though, and I enjoyed it.
Professional Wine Opener
this was awesome
Home Theater Systems
And why did anybody get a mortgage they couldn’t afford? Because the federal government removed the Risk by insuring the loans. Therefore all of these companies that give out loans did not have to deal with risky loans because they weren’t on the hook when the loans went bad therefore they just gave out loans left and right. If the government meddle with the housing market, the bubbly wouldn’t have been started.
Backlinks
@Bobintheb0x yep.
Home Theater
that wasn’t you doing the puppet’s voices was it?
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This guy is so wrong its not even funny. When the federal reserve lowered intrests after 911 to jump start the economy which sank into recession, the restriction on borrowing became lacked. As the money supply increased and interest rates dropped the commodity of money became easier to get through mortgages. Usually subprime mortgages required bigger down payments, higher interest rates as a way to protect the lender if the loan went bad. That wasn’t the case this time around.
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Very Well done. Thank you
/Ramin
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uh wrong.. do some research. That idiot president Carter signed the community reinvestment act and Clinton issued heavy regulations that tracked sub prime loans and rated banks accordingly. Then congress passed laws mandating GSEs to buy up bad loans and the treasury dept established a fund to give banks tax dollars for more bad loans. The FED helped screw things up with bombing interest rates to almost nothing. Most of this mess was caused by GOVERNMENT.
Retro Cycling Jerseys
Global pool of money = Savings? You are full of nonsense. The global pool of money consists entirely of borrowed money. Savings is miniscule.
Training a Puppy
@tophers402 best comment ever! and thank This American Life…
Cystic Acne Natural Treatment
I’m a senior in college sitting in front of a packet of powerpoint slides for my investment management class. The diagrams in this video with Scrooge McDuck and stick figures are almost identical to what I pay $20,000 a year to read. Bravo.
Cycling Gloves
I think this video is good but it’s only telling half the story. What about how government through its failed policies was the primary source and accomadated the credit crises.
How to Sleep Better
youre a dumb ass yes they have control they open the gates so to speak. thats why they say it’s everyones fault but really it’s the people who open the gates. remember the zero down while that was bills idea.
Professional Wine Opener
uh wrong - the greedy banks let this happen. They are PRIVATE business. They are responsible for giving loans to people THEY feel can pay them back - they didn’t. They got f**ked. And so did we all.