Banker asked:


went bad? Think about it, a person who trades in a car worth $4500 or less and then is forced to buy a new car. Now if they could only afford a car worth $4500 today, how are they going to afford the payments and insurance on a new car tomorrow? A few maybe, but how many people got into risky loans, loans they could not afford, just like the home mortgage mess, because it sounded like the government was almost giving you a car. Do you think a portion of these loans are risky and will go bad, just like the home mortgage loans?

Tara

Belizegirl asked:


i was told my Wells Fargo whom i currently have my home loan with and when i asked them about the program they said that i did not qualify because i have private mortgage insurance.

Maureen

Jeanie S asked:


If you don’t put down 20% on a home loan you must pay Private Mortgage Insurance. So with all these loans going belly up why did ppl pay this and who took the money?

Erin