The last few years have really put a dent in lending to house owners, car owners, small business people as regulations tightened, banks became fearful, and borrowers foreclosed on house. One wonders whether upfront rates like those on rv financing are actually what typical customers will end up paying, given the climate of fear, unemployment and undoubtedly longer… Read More »
A lot of homeowners have found themselves in really bad trouble by taking out excessive home loans in the United States. And this is part of the problem which led up to the financial crisis. Why? Because lenders forgot the basic principals of lending when they could write off risky loans by passing them off as investment grade… Read More »
CNN recently ran a report on home repossessions in the US that detailed how many former home owners were reduced to living in trailer parks after they hadn’t been able to keep up with payments on their house. I felt sorry for those people, somehow caught up in the shenanigans of the mortgage lenders and their folly in… Read More »