tag:blogger.com,1999:blog-2361493254456057158.post2770017353563420600..comments2023-11-05T04:01:40.855-08:00Comments on That's just the way it is! Isn't it?: The numbers don't add up. part 3Jasonhttp://www.blogger.com/profile/11707747781007743555noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2361493254456057158.post-70455541243188503272008-09-30T20:26:00.000-07:002008-09-30T20:26:00.000-07:00I remember when you had to jump through some high ...I remember when you had to jump through some high hoops to get a mortgage. Show steady employment for 2 years, that you could afford the payment, have 20% down. Why is it such a surprise to have that down payment today?<BR/><BR/>Read the article I posted on my blog that I received from Fidelity today. I found it quite interesting.<BR/>www.likechocolates.blogspot.comAliciahttps://www.blogger.com/profile/11793699453454773312noreply@blogger.comtag:blogger.com,1999:blog-2361493254456057158.post-63969086227644868802008-09-30T01:51:00.000-07:002008-09-30T01:51:00.000-07:00"Either way the question now is to bail the banks ..."Either way the question now is to bail the banks out or not to. If you just paid all of the homes off it would sum up to $536,964,808,868. But then if you pay off just those whose payments were late in the last twelve month which is 1,234,993 for a total of $227,136,207,581. Maybe those in government should explain why they need $700,000,000,000."<BR/><BR/>Good question. First, I think Congress did the right thing today, regardless of the short-term reaction. To answer your question, most of that 700 Billion would not have been used for actual mortgages. It would have been wasted in trying to deal with 100's of TRILLIONS of dollars in worthless derivatives. Aloha, BradMauibradhttps://www.blogger.com/profile/16759237357642699345noreply@blogger.comtag:blogger.com,1999:blog-2361493254456057158.post-79885913125911140612008-09-28T19:11:00.000-07:002008-09-28T19:11:00.000-07:00Reports of predatory lending practices are well do...Reports of predatory lending practices are well documented. I have seen absolutely zero on mortgage fraud. <BR/><BR/>Unless you count credit check agenecies that were hand picked by lenders beause of their willingness "fabricate numbers" to ensure loan approvals? (That is documented fact in many of the cases as well)<BR/><BR/>BTW: Focusing on the mortgage aspect of it only excludes where the largest frauds were purpotrated: The shaow bank credit default swaps, credit derivatives, etc, that were manipulated to rape the financial system by these banks.<BR/><BR/>Mortgages, sub-prime or not, are just the tip of the iceberg in the crimes.Connecticut Man1https://www.blogger.com/profile/08923884330387123010noreply@blogger.com