Title: Foreclosures on the rise.
Description: sub-prime lending backfires
Kevin Beckman - March 25, 2007 11:51 PM (GMT)
Now that the housing boom has busted we've come to the point were sub-prime lending fails. Thousands of people will now lose their homes because their interest rates have jumped too high and they can't refinance because their homes are worth less than their loans.
Deltasix - March 26, 2007 12:30 AM (GMT)
Right.....
So does this mean when I get out of college in a few years, houses and the like will be cheap? ;)
Kevin Beckman - March 26, 2007 01:17 AM (GMT)
Cheaper.
Not quite cheap as hell though.
Just remember. GET A FIXED INTEREST RATE.
Kevin Beckman - March 29, 2007 08:30 PM (GMT)
Lorpius Prime - April 9, 2007 01:22 AM (GMT)
| QUOTE (Deltasix @ Mar 25 2007, 07:30 PM) |
Right.....
So does this mean when I get out of college in a few years, houses and the like will be cheap? ;) |
Yes, but the mortgage you get for it won't be.
Kevin Beckman - June 10, 2007 12:46 AM (GMT)
I know of a place where you could buy a house for just a couple thousand.
Kevin Beckman - July 12, 2007 11:01 PM (GMT)
Massachusetts has decided to save the people who were too stupid to really take the time and do the research on one of the most important investments you can make. Those who have become "victims" of sub-prime lending can apply for state aid that pays for your mortgage. No worries though. They said that this isn't funded by taxpayer dollars 70% is federally funded and the rest is payed with housing authority bonds.
It's one thing to reward people who can't make proper financial decisions, but then to lie to me about how it won't be paid with tax dollars...
God Damn.