Financial Information
TheRealDeal – Second wave of mortgage crisis to come
second mortgage
In a segment on CBS that aired yesterday, 60 Minutes correspondent Scott Pelley talks to investment and credit experts about the new types of mortgages that will create a second wave of foreclosures. The country has already suffered the subprime mortgage crisis, and the experts say the next wave of risky mortgages to default are the Alt-A and option ARM mortgages, which were also bundled into Wall Street securities and sold to investors. For more information plesae click the link: www.cbsnews.com
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#6 written by theratfarmer 1 year ago
how can a home owner be resposible for 90% of any mortgage loan? for example, a 100k loan, from a bank, for a mortgage loan is 90% made up out of thin air. “fractional reserve banking”. so, the way i see it is, the home owner only owes 10% of the loan (10k). how can a bank loan the money if they don’t have the other 90% (90k) of money? legally the home owner owes only 10% of the mortgage.
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#8 written by dcm05002 1 year ago
this country will collapse. the second you hear of a 100billion dollar auction in t-bills and only and 82billion offer.. watch the dollar inflate to the sky. thar is atleast a couple years away. The fed caused the bubble. The government wont let it deflate.. print print print.. lost confidence in bond market down the road = THE END. we are the new soviet union
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#9 written by WolYou 1 year ago
Actually, the soviet union has already outmoded the USA. It just looks different, but your economic “system” leads to the same result. Anyway, this crisis affects less than 1% of the worlds wealth. Its funny how much panic is going on just because some anal-ysts are predicting further crashes. Its like suspecting a car will explode because one backlight is defect.
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#18 written by ghostlaw1980 1 year ago
R we only capable of passing greed laws at this point. I want a mortgage that is adjustable. Adjustable to fair market value. My grandfather took out a loan 50 years ago to start a business. They gave him ten years to repay it. He repaid it in one year. The next year he bought a house free and clear. To all the BMW driving pinto owners, your getting what you bought. Insecurity. I want what I pay for.
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Wonder if “Oscar” ever gets to move out a family he himself conned into buying an overpriced house that he knew they couldn’t afford.
How do you think Oscar feels about that?