Did you know that McCain has lobbyists for the brutal dictatorship of Myanmar, oil corporation lobbyists,
lobbyists for Georgia, and the mortgage banking industry who supported the subprime loans and unethical loan practices working for his campaign? Do we really want 4 more of this kind of unethical behaviour that McCain represents representing us in the White House?
I remember a few years ago that homeowners could borrow up to 125% of the value of their home.
Of course that came with strings attached.
Most of these lenders were skimming around $ 5000 off the top and calling them “fees”.
Lenders are getting ever more creative in legal but what some consider unethical ways of charging these so called “fees” in addition to the basic interest on the loan. ie: points, pmi and more fees at closing and then burring them into the loan.
I just wondered if anyone knows with the recent problems with subprime defaults, are any lenders taking on risk such as 100% financing.
Here is a question within a question…
Do you think the default problems are in part to blame for lenders now willing to loan funds to persons living in the United States with at best TIN numbers in lieu of Soc. Sec. documentation?
Uusually meaning that these individuals are not U.S. citizens in many cases.