BoA OWNED by person

[Particle Man]

Originally Posted by pauldun170

Yall here Blake Lively got some nudie pics out?
Daze reel

Well done

[Particle Man]

Timely:

http://finance.yahoo.com/news/Home-L...807382432.html

During the housing boom, some buyers flocked to ARMs, hoping to sell their houses at a profit before rates reset. When prices started falling, the gambit stopped working. And after the monthly payments shot up, many borrowers found themselves facing higher-than-anticipated bills. The problem was especially acute with so-called option ARMs, which allowed borrowers to make a minimum payment that didn't cover the interest due and led to a rising loan balance.

When the housing market crashed, ARMs—and the lenders and brokers who sold them—shouldered part of the blame. Last month, ARMs made up some 6.5% of the total mortgage market, according to the Mortgage Bankers Association, down from roughly 18% in April 2007.

There's a lot of guilt to spread around. Plenty, in fact.

[Captain Morgan]

Originally Posted by Particle Man

Timely:

http://finance.yahoo.com/news/Home-L...807382432.html



There's a lot of guilt to spread around. Plenty, in fact.

Good grief, the author of that article is ignorant.

[Particle Man]

Originally Posted by Captain Morgan

Good grief, the author of that article is ignorant.

Ignorant or not, it takes 2 to fuck and both banks AND a fairly large number of consumers make 1 + 1...

[Captain Morgan]

Originally Posted by Particle Man

Ignorant or not, it takes 2 to fuck and both banks AND a fairly large number of consumers make 1 + 1...

I don't disagree.

[goof2]

Originally Posted by Particle Man

Ignorant or not, it takes 2 to fuck and both banks AND a fairly large number of consumers make 1 + 1...

Oh, absolutely. That is what I said in my first post too.

[Avatard]

Admittedly, tact has never been my strong suit. Pain can make you a very impatient human.

[Homeslice]

BTW, as to the video.........That lawyer has probably been in practice only a couple years, and is only doing this to get publicity.

[Papa_Complex]

Some numbers:

- In 2007, roughly 13% of mortgages were subprime. Source

- In 2009, roughly 37% of mortgages issued were insured by FHA. This compares to 7%, in 2007 and 26%, in 2008. Source

- The Veterans Administration guaranteed 6.7% of mortgages made in 2009, 4.9% in 2008, and 2.7% in 2007. Source

[goof2]

Originally Posted by Papa_Complex

Some numbers:

- In 2007, roughly 13% of mortgages were subprime. Source[/url]

Yet the same source says according to their survey 20% of borrowers "face foreclosure due to predatory loan terms and multiple refinances."

It is a pretty safe bet people in that group (which I would imagine included a lot of subprime) didn't have a bunch of equity before values started dropping and didn't have fully insured loans.

Originally Posted by Papa_Complex

- In 2009, roughly 37% of mortgages issued were insured by FHA. This compares to 7%, in 2007 and 26%, in 2008. Source

- The Veterans Administration guaranteed 6.7% of mortgages made in 2009, 4.9% in 2008, and 2.7% in 2007. Source

So what, there was a big increase in insured mortgages after the housing bubble burst and easy credit dried up. I would expect nothing less. My guess is the numbers for 02-06 look a lot more like 2007 than 2009. In other words the large majority of loans written during that time weren't fully insured, though they may have had PMI.

Most of these problem loans (a lot of them aren't "subprime", they suck but don't fall in the subprime basket) were written from 02-07. When real estate and banks started tanking in 07, 08, and 09 easy credit dried up. In order to get loans people had to either demonstrate they were financially capable of actually paying the money back or get a government insured loan.