Wednesday, October 28th, 2009
How can someone with a thirty something debt ratio loose their home?
sdcadavid asked:
debt ratio not pay their mortgage?? By it’s very defintion it is almost impossible I mean that is how all the new refinaces are supposed to be made for those who are having mortgage problems. I lost my home 20 years ago and I never was near 31 or 38 debt to income.
debt ratio not pay their mortgage?? By it’s very defintion it is almost impossible I mean that is how all the new refinaces are supposed to be made for those who are having mortgage problems. I lost my home 20 years ago and I never was near 31 or 38 debt to income.
October 30th, 2009 at 12:20 am
The problem with today’s mortgage issues are that people received veritable mortgages/ Second they have a LTV at 100%. And home prices have fallen by 30-50% of 2 Year ago prices.
So if you add the loss of income a higher mortgage payment and larger than life credit card dept. Then you are going to have what we have today. A deregulated banking system (under reagan and bush) Lenders after nothing but a hugh paycheck. Then you have the fat cats in the stock market that are crying now.