Comments on: To all ppl with mortgages and bad credit? http://debitonge.com/bad-credit-mortgages/to-all-ppl-with-mortgages-and-bad-credit Wed, 07 Apr 2010 15:19:59 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: samy http://debitonge.com/bad-credit-mortgages/to-all-ppl-with-mortgages-and-bad-credit/comment-page-1#comment-82 samy Sun, 08 Nov 2009 08:51:59 +0000 http://debitonge.com/bad-credit-mortgages/to-all-ppl-with-mortgages-and-bad-credit#comment-82 Bart I found interesting information about your answer & the best options here. http://all-mortgage-calculators.blogspot.com/2007/07/mortgage-loans.html Good luck!<br><b>References : </b><br> Bart I found interesting information about your answer & the best options here.
http://all-mortgage-calculators.blogspot.com/2007/07/mortgage-loans.html
Good luck!
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]]> By: thilaka http://debitonge.com/bad-credit-mortgages/to-all-ppl-with-mortgages-and-bad-credit/comment-page-1#comment-81 thilaka Sun, 08 Nov 2009 08:15:59 +0000 http://debitonge.com/bad-credit-mortgages/to-all-ppl-with-mortgages-and-bad-credit#comment-81 You may get your doubts very well clarified from http://moneytips.bestmoneymatters.info... . Best wishes!<br><b>References : </b><br> You may get your doubts very well clarified from http://moneytips.bestmoneymatters.info... . Best wishes!
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]]> By: Greg S http://debitonge.com/bad-credit-mortgages/to-all-ppl-with-mortgages-and-bad-credit/comment-page-1#comment-80 Greg S Sun, 08 Nov 2009 07:43:59 +0000 http://debitonge.com/bad-credit-mortgages/to-all-ppl-with-mortgages-and-bad-credit#comment-80 I work for one of the largest mortgage banks in the country. I got news for you, even the people with "good" credit are defaulting. Many investors are letting their house go into foreclosure or short selling for a loss. We're not responsible for individuals poor choices. They knew they could not afford the payment. Blame it on the mortgage brokers who "creatively" bypassed every guideline and the appraisers who inflated values. Oh, and what about the greedy realtors who got their borrowers salivating over homes they could not afford? I have a few credit card with very low balances. I guess I could go run out and max them all out. Just because someone gives you a little rope it doesn't mean you should tie a nuce and hang yourself. As for the dollar falling, it should have really gotten whacked after the dot com bust. This wall street rollar coaster has kept the economy running the past few years but unfortunately we're out of track.<br><b>References : </b><br> I work for one of the largest mortgage banks in the country. I got news for you, even the people with "good" credit are defaulting. Many investors are letting their house go into foreclosure or short selling for a loss.

We’re not responsible for individuals poor choices. They knew they could not afford the payment. Blame it on the mortgage brokers who "creatively" bypassed every guideline and the appraisers who inflated values. Oh, and what about the greedy realtors who got their borrowers salivating over homes they could not afford?

I have a few credit card with very low balances. I guess I could go run out and max them all out. Just because someone gives you a little rope it doesn’t mean you should tie a nuce and hang yourself.

As for the dollar falling, it should have really gotten whacked after the dot com bust. This wall street rollar coaster has kept the economy running the past few years but unfortunately we’re out of track.
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]]> By: Mike http://debitonge.com/bad-credit-mortgages/to-all-ppl-with-mortgages-and-bad-credit/comment-page-1#comment-79 Mike Sun, 08 Nov 2009 07:02:59 +0000 http://debitonge.com/bad-credit-mortgages/to-all-ppl-with-mortgages-and-bad-credit#comment-79 97.6% of American's pay their mortgage on time. This correction is long overdue... and it really was necessary. Homes were overvalued.<br><b>References : </b><br> 97.6% of American’s pay their mortgage on time.

This correction is long overdue… and it really was necessary. Homes were overvalued.
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]]> By: bdancer222 http://debitonge.com/bad-credit-mortgages/to-all-ppl-with-mortgages-and-bad-credit/comment-page-1#comment-78 bdancer222 Sun, 08 Nov 2009 06:14:59 +0000 http://debitonge.com/bad-credit-mortgages/to-all-ppl-with-mortgages-and-bad-credit#comment-78 Back in the olden days when I bought my first house, the rule of thumb was 25% of your gross monthly income to cover mortgage and utilities. Now the rule of thumb seems to be 30% to 40% of gross monthly income for the mortgage alone. Throw in all that "creative financing" and a few preditory lenders, and voila!<br><b>References : </b><br> Back in the olden days when I bought my first house, the rule of thumb was 25% of your gross monthly income to cover mortgage and utilities. Now the rule of thumb seems to be 30% to 40% of gross monthly income for the mortgage alone.

Throw in all that "creative financing" and a few preditory lenders, and voila!
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]]> By: REinfo http://debitonge.com/bad-credit-mortgages/to-all-ppl-with-mortgages-and-bad-credit/comment-page-1#comment-77 REinfo Sun, 08 Nov 2009 05:35:59 +0000 http://debitonge.com/bad-credit-mortgages/to-all-ppl-with-mortgages-and-bad-credit#comment-77 Actually its not all their fault, alot of banks approved sub prime loans with very little requirements i.e. Stated income, State assets, 100% financing and so on. So everyone wanted the american dream of owning a home with no money down hoping that their values would increase. Which caused this huge problem of a declining home market. It will change, its all a cycle.<br><b>References : </b><br> Actually its not all their fault, alot of banks approved sub prime loans with very little requirements i.e. Stated income, State assets, 100% financing and so on. So everyone wanted the american dream of owning a home with no money down hoping that their values would increase. Which caused this huge problem of a declining home market.

It will change, its all a cycle.
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