Subprime Mortgage Loans Online - What To Expect [mortgagecalculator-tips.blogspot.com]
Question by jesswzmn: Can you list the reasons you think houses prices went up so high during the housing bubble? I can think of: 1) the govt manipulating interest rates and keeping them low for all those years after 9/11. 2) The advent of all those new loan programs that made it so easy for people to buy houses using those teaser rates adjustables mortgages that erstwhile they might have found unaffordable. 3) The subprime mortgages with no income verification no assest verification, no money down needed etc.. All 3 of those factors created and increased demand for housing and speculation from investors looking to cash in on the housing price hikes. Now of course, the question is..with the credit crunch and lenders being stingy on making loans and rates rising, how low will the housing bust go? Best answer for Can you list the reasons you think houses prices went up so high during the housing bubble?:
Answer by dennisbigking96
because it was a ruff time and people needed more money and it was harder to sell
Answer by Helios
The Bush family has been stealing money from real estate for a long time, and they manipulate the market to make it easier for people to get loans so they can be foreclosed upon later. Was anybody fooled when Li'l Bush talked about "everybody should own their own house" back in 2004??? He was setting up the table for his banker friends (and his own family) to start raking in the cash. And now Americans are losing their houses in record numbers!! Nice having a psychopath as President, hu? He's a real friend to the Super Rich!
Answer by earth angel
I will not point finger on the government. It is the doers that slump the housing. Including the people involved in processing, the people involved in investing, I would say all the people involved to make the sale of the house. It cannot be by one player only that the reason a house becomes forclosed. If it is only one sale that has falsification on papers, the housing business will not come to this. It is that everyone found out how to cheat on their part of the process, and so housing business stumbled. The people that did the sale, bought houses, process and lend the money in the last 6 years starting 2001 should be barred and not let be in the business again so that this will not happen again. The people who are dreaming about owning a house, should really work hard to have a house because owning a house is a priviledge.
This video is a list of US mortgage lenders who have closed or otherwise exited the mortgage lending business since late 2006.
mortgagecalculator-tips.blogspot.com The Collapse of the Mortgage Lending Industry
There's a lengthy list of subprime lenders who have departed the Canadian market. It includes names like: Abode Mortgage (Abode was also a prime lender) ... Subprime Mortgage Renewal Risk
Trying to get a subprime mortgage loan online can seem intimidating in the beginning. With so many lenders to choose from, it can appear difficult to acquire the best mortgage loan. However, online subprime lenders permit you to search for rates, compare financing options, and avoid slipping prey to predatory lenders.
What To Expect  Subprime lenders provide home loans to people with adverse credit at slightly higher prices. Depending on your financial situation, you should expect to pay a few points higher than the prime loan rate. You will also pay some fees that should equal to no more than 2% of your mortgage.  Online subprime lenders offer the same services of a traditional bank, but through the ease of the internet. You can request quotes, ask questions, or make an application for your mortgage finance online.  Searching For Rates  With on the internet subprime lenders, it is simple to find basic estimates. Mortgage lending websites can offer you quotes from a number of different lenders. Another option is to go to individual mortgage company sites and request a quote.  Generally, instant mortgage quotes come from only the standard information that you provide. This is a quick method to learn which subprime mortgage lenders offer the best prices. This is also an easy way to weed out the predatory lenders using their excessively high rates.  Picking A Lender  Pick at least three lenders you think are competitive and request a formal quote from all of them. Typically, you will need to feel out an on the internet application, providing information about your employment history, property's area, and other such details. All of the information requested are factors that mortgage brokers use to determine your rate.  Once you receive estimates, take the time to review their offers. Add in the cost of loan fees along with the interest you will pay to determine the total cost from the loan. When you have decided on an offer, you are able to quickly finish the application process.  Applying Online  Applying for an online mortgage loan is practically the same as requesting a rate quote. Some mortgage lenders will need you to complete more information online; others will send you paperwork to accomplish.  When your application is completed, you will receive your financing package within the mail for your approval and signature. You will need to sign the forms before a notary. The last step is to send the paperwork back to the mortgage lender to allow them to finalize the loan. Recommend Subprime Mortgage Loans Online - What To Expect Issues
