Re: Lie to buy



On 25 Sep, 08:29, Mogga <d...@xxxxxxxxxxxxxxxxxxxxxxxxxxxxx> wrote:
http://news.bbc.co.uk/2/hi/programmes/file_on_4/7010415.stm

Whoops.

But wasn't this known about at the time and stated as a contributory
factor to the huge house price rise?

'Self Cert' morgtages were 'exposed' some time ago.

The quesion is what % of lending is sub-prime, and what % of sub-prime
lending is truly dodgy. I bet it is not big enough to have a
signifcant impact on the housing market.

Should people be denied credit simply because they are not an
identikit person, living in the same identikit house with the same
identikit job for the past 20 years....?

Banks say credit scoring is accurate, but I seriously doubt it. More
likely it is crude, cheap and quick form of discrimination. Just like
refusing to lend on ex local auhtority houses, when these are often
built to better standards than privately built houses.








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