Mortgage Crisis and the Crooked Predatory Lenders
Everyone by now is aware of the looming mortgage crisis and has probably added their two cents as to its cause and effect on the financial world. Having been in the mortgage business a little over ten years I have read most of the press that is covering this historic event in America and I thought I would chime in as well. As a result of the controversial headline I assume that most of the people that will read this column will do so predisposed to hate it or love it. Either way, I hope you continue reading as I feel it will shine a light on this subject that is often neglected. “Lenders and brokers didn’t fret about a borrower’s long-term prospects of maintaining payments because they collected their profits at the closing table; the loans were then resold to investors.” Maureen Downey Atlanta Journal Constitution
This quote is not […]
Original post by admin