I don’t think that C/W actually loans the money out. But, even if they did, why would they invest in assets that are going to cost them money? I think some people need to go to the pokey, if you ask me.

Sure, they were greedy. But, honestly, did the people taking out the loans really think they could come up with the money to make the higher payments. Did they not think about anything beyond the day they SIGNED all the paperwork?

I’m having a hard time feeling sorry for these people. I have purchased two different homes and I recently refinanced my current home. I READ all the paperwork before I signed it. I didn’t take on a payment I couldn’t afford. I took responsibility for MY OWN FINANCIAL DECISIONS.

Because the President of Countrywide couldn’t become the highest paid AND worst CEO in the country by being ethical.
I learned this the hard way, during the S&L collapse, and it completely ruined my life.

I should have realized being a minority of one could never work after an informal chat with several managers. I voiced my concerns of stockholders having too little or improper involvement in the company and the middle manager said: “You’re pretty young. How much do you know about running a mortgage company?” and I said “Probably not enough. I’ve spent most of my time learning how we shouldn’t run a mortgage company.”

There’s not much solace in I told you so.

Maybe people shouldn’t be stupid and buy things they can’t afford? Hmm. Countrywide is already screwed due to insolvency, how is it going to help other people’s insolvency??

It’s not like they made a lot of money giving loans to people who can’t pay them back…they LOST a LOT of money doing that. Where do you suggest they get the money to help the morons who borrowed from them in the first place? If you can’t spend your own income intelligently, why should retailers and banks and credit card companies help pay your bill?

I’m not so sure they’ll go up too high (they’ll go up for sure) but the banks are REALLY tightening their standards on whom they’ll lend to. I’m going thru hell right now. If you are going for a home, make sure you have enough money down (like 20%) and make absolutely sure your credit rating is high enough. It seems you’ll need 620 just to be considered. I’m just under and am having trouble refinancing (so now I have to sell).

If your credit rating is good enough, like in the 700’s, you’ll get a good rate.

With ?

How many defaults have 2 or 3 thin flat screens in them, bet its like 75%.

I don’t have one of them, but wait I paid my house off, not mortgaged 150 % of its value to buy lead covered baubles from China.

It was just on the news tonight that the Interest Rates are going to be getting higher and the Loan Companies are going to make it more difficult for buyers (especially first time buyers) to get Home Loans. The market seems to be bad right now. I know for a fact that the housing market both buying and selling is depressed now. There are Major Realty Companies that are laying off Realtors because the houses are just not selling. Lenders that before were so easily giving out loans are not doing so at present. We can only hope things will get better in the months to come..

The FED is start trying to dont go up, but only a Bomm in some sector can stop going uppppppp

George Washington sets standard of ethics for most things.

If there is a dollar to be had, what will some do?

If in taking advice the giver can gain either your money or intellectual properties, beware, think it over.

Reading this report should help