What are the major “low” lending standards that has caused the “sub prime” mortgages crises?
I was reading an article in the business section of the L.A. Times today discussing the result of sub primes mortgages after the housing boom. It mentioned that resulting home foreclosures would “slow the rise in rents”. I’m wondering, in an economic sense, how this is possible. Related Blogs Related Blogs on Apartment Apartment/condo Security [...]
The fed cut rates today by 75 points, but I checked rates offered on mortgages today and found that they have only dropped slightly. How long does it take before mortgage rates change with the fed prime rate cut? Related Blogs Related Blogs on Lending Related Blogs on Mortgages Related Blogs on Offered
By Gurmit Singh Toor Refinancing after a bankruptcy is not impossible, but it does take some work, and while some companies will refinance a day after the bankruptcy is discharged, it is not a good idea because the lender is not the most reputable. Use the six months to prepare properly for the refinance. Research [...]
How are sub prime loans, the US mortgage situation, the credit crunch , Northern Rock and the loss of city jobs related ?why is this all very important? and what does this say about the state of the economy?