sub prime loans kill housing market and American Dreams

From: "ellis_jay" <ellis_jay@xxxxxxxxxxxxxx>
Date: Mon, 30 Apr 2007 11:28:27 -0500

Alt A loans given to people with no paper work in order to buy homes-well,
those people will be removed from their homes soon as their payments will
go up as much as 1500 American dollars per month-that on top of their
regular payments. These few millions of lower and middle income famlies
will not be able to pay for their homes when the hike happens. Thanx to the
very fine print in their contracts. And thanx to some very smart, and
crooked lenders.

--
When people are engaged in something they are not proud of, they do not
welcome witnesses.
In fact, they come to believe the witness causes the trouble.
___John Steinbeck

Ellis_Jay

.

Prev by Date: Immigrants my ASS!!!
Next by Date: Rush--Virginia Tech shooter was a liberal
Previous by thread: Immigrants my ASS!!!
Next by thread: Rush--Virginia Tech shooter was a liberal
Index(es):
- Date
- Thread

Relevant Pages

Re: A Moment of Silence
... An all-liberal team on the Supreme Court would ... they could afford through goofy-ass lending opportunities. ... I was involved w/ 2 different folks who bought homes (their first ... payments if/when the payments ratcheted up. ...
(rec.bicycles.racing)
Re: NBC: Balloon - Can You Explain This To Us?
... payments if the banks were going to reduce the principal on loans that ... were behind on payments? ... for increasing numbers of people to walk away from their homes under ... The hope is that this would incentivize people to make the effort to ...
(rec.music.artists.springsteen)
Re: OT: Economy Stimulus proposal.
... Giving them a helping hand to ... I said allow in immigrants who have a "conventional down payment" (that being 25%, not the 5% or 10% down payments that require mortgage insurance) and who can qualify for such a mortgage with either asset security or income. ... In essence, I am saying capitalize on the US's desirability to create real demand with wealthy immigrants, instead of printing a trillion dollars to create artificial and temporary demand. ... I didn't say anything remotely like "give homes to everyone". ...
(rec.gambling.poker)
Re: New Stray
... Payments are unnaturally low in the first ... divorce by borrowing more on it every year as the so called market value ... the rent couldn't. ... They are kicked out of their homes ...
(rec.pets.cats.anecdotes)