I am going to write a term paper about sub prime mortgages but I’m having trouble.?
I have researched but I can’t imagine what I could talk about for 6 pages(that’s how long it has to be) I explained what they are and how it effects our economy but what else is there to talk about. Is it just a bad topic to pick for ther term paper? thanks for any help.
Tags: Mortgages, Sub Prime Mortgages
That’s a good topic, but I suspect it will be boring for the professor since a lot of the issues are well known.
6 pages is a short paper. The effects on the economy alone could take up a book.
I can write a 6 page report about the housing crisis.
Write about why mortgage companies offered these horrible programs in the first place. Write about how w/o these programs many ppl would not have been able to buy a house the conventional way. Write how many ppl bought far more house then they could actually afford. Give an example (or two) how mortgage payments adjusted once the prime rate adjusted. Write what ppl did to their homes once they went into foreclosure. Mortgage companies now filing Bk’s because they own more houses that they cannot sell off because they would have to sell them at loss. Write how ppl expect the federal government to bail them out of their own bad decisions and how that affects the general population.
There is plenty to fill 6 pages. Give examples backed up w/ facts.
It sounds like you have chosen a current events topic… As you have already researched this topic to a degree building a 6 page paper is reasonable. Consider building an outline to organize your ideas. Example:
Theory: There are specific dynamics that have contributed to America’s Sub-Prime Collapse.
I. Loan programs can place clients at great risk.
A. Interest Only programs, have frequently been misused to get buyers into homes without proper financial education about interest and principle impacts.
B. Adjustable Rate Programs, often ill-prepare the borrower for an introductory rate that will increase and cause them financial hardship.
C. Fixed Rate Programs, while popular, do not fit all first time borrowers.
II. Income qualifications have frequently been compromised.
A. Borrowers income in many cases is not directly verified from the employer.
B. Borrowers income often has been stated, via self-employed, and does not consider employment expenses.
III. Credit Scores have been given minimal weight.
A. Judgements and past bankruptcy are conveniently minimized.
B. Current obligations are often eliminated through borrowers testimony or letters of regret/excuse.
C. Credit lines do not display a sufficient time of payment history.
IV. Borrowers Pre-approvals become too generic and convenient.
A. Borrowers are frequently pre-approved for a purchase without consideration of tax, insurance, or mortgage insurance premiums.
B. Borrowers fail to practice logical financial boundaries.
The above is just a brief and general outline that my help jump start your essay. Good Luck – your topic is great just take some time and make an outline you are confident about.