Comments on: More on the Hope Now Deniallance: Sorting them Out http://www.behindthemortgage.com/2007/12/more-on-the-hope-now-deniallance-sorting-them-out.html?utm_source=rss&utm_medium=rss&utm_campaign=more-on-the-hope-now-deniallance-sorting-them-out Alex Stenback | Twin Cities Blog on Mortgages, Rates, and Real Estate Thu, 05 Jan 2012 22:38:40 +0000 hourly 1 http://wordpress.org/?v= By: John Stenback http://www.behindthemortgage.com/2007/12/more-on-the-hope-now-deniallance-sorting-them-out.html/comment-page-1#comment-689 John Stenback Tue, 04 Dec 2007 06:19:57 +0000 http://dev.multiplycommunications.com/btm/?p=620#comment-689 Are the introductory rates on the ARMs lower than prime rates?How about just raising them to a prime rate - something affordable to the borrower and the lender? When the mortgage lender charges the subprime borrower, which is to say, those least able to afford it, the most in interest rates, aren't they( mortgage lender) in turn increasing their own risk? That doesn't make sense. Are the introductory rates on the ARMs lower than prime rates?How about just raising them to a prime rate – something affordable to the borrower and the lender? When the mortgage lender charges the subprime borrower, which is to say, those least able to afford it, the most in interest rates, aren’t they( mortgage lender) in turn increasing their own risk? That doesn’t make sense.

]]> By: John Hoff http://www.behindthemortgage.com/2007/12/more-on-the-hope-now-deniallance-sorting-them-out.html/comment-page-1#comment-688 John Hoff Tue, 04 Dec 2007 00:59:17 +0000 http://dev.multiplycommunications.com/btm/?p=620#comment-688 The folks who got these mortgages had dings in their credit to begin with. I bet the criteria for this new help will be so picky that it won't do many of them any good at all. Plus the whole plan will get caught up in politics and take forever to implement. Really, it's kind of like the S & L thing all over again in that the problem will move forward rapidly while solutions move forward with agonizing slowness dragging the economy down with it. And somewhere in this we will have a new "Charles Keating" as the poster boy for mortgage fraud. I'd like to nominate some of the folks from TJ Wakonia. The folks who got these mortgages had dings in their credit to begin with. I bet the criteria for this new help will be so picky that it won’t do many of them any good at all. Plus the whole plan will get caught up in politics and take forever to implement.

Really, it’s kind of like the S & L thing all over again in that the problem will move forward rapidly while solutions move forward with agonizing slowness dragging the economy down with it.

And somewhere in this we will have a new “Charles Keating” as the poster boy for mortgage fraud. I’d like to nominate some of the folks from TJ Wakonia.

]]>