How Pablo got his house!
So here is the scam as I see it!
Mortgage lenders work together in giving Loans to those people who are less likely to fulfill on their commitment, which in-turn drastically increases the demand for single family residences, which in-turn drastically drives up the value of all real property, which resulting increases would most likely off-set any loss the lender might suffer should the buyer default and the home be repossessed.
The Parasite Profiteers have found a way to hedge their risk by creating a false demand!
So in the mean time, these lenders are able to charge much higher than normal loan rates, increase the probability the borrower will fail with deferring the down payments, pocket un-earned extra income from collecting more frequent late fees, deduct any legal costs from their taxable income, and then if worse comes to worse they end up owning a property that has since become a greater value than what it was when they lent the money to the borrower and they enjoyed some cash-flow during the process.
The stairway to the stars!
Now I understand how so many rental tenants who suffer weak credit and late pay histories, are able to obtain considerable Home Loans with never an inquiry made as to their ability in dealing with past commitments and responsibilities.
And now, I better understand why some business people are very happy with the Illegal Alien Invasion and why Alan Greenspan was such an advocate of "creative lending" practices.
The next question is, who among us will complain of this practice as long as their string is tied to the same kite?
Press #2 for English and pray the wind doesn't calm without warning.
Note: 47% of all home mortgages in the US last year were non-conforming loans.
Mortgage lenders work together in giving Loans to those people who are less likely to fulfill on their commitment, which in-turn drastically increases the demand for single family residences, which in-turn drastically drives up the value of all real property, which resulting increases would most likely off-set any loss the lender might suffer should the buyer default and the home be repossessed.
The Parasite Profiteers have found a way to hedge their risk by creating a false demand!
So in the mean time, these lenders are able to charge much higher than normal loan rates, increase the probability the borrower will fail with deferring the down payments, pocket un-earned extra income from collecting more frequent late fees, deduct any legal costs from their taxable income, and then if worse comes to worse they end up owning a property that has since become a greater value than what it was when they lent the money to the borrower and they enjoyed some cash-flow during the process.
The stairway to the stars!
Now I understand how so many rental tenants who suffer weak credit and late pay histories, are able to obtain considerable Home Loans with never an inquiry made as to their ability in dealing with past commitments and responsibilities.
And now, I better understand why some business people are very happy with the Illegal Alien Invasion and why Alan Greenspan was such an advocate of "creative lending" practices.
The next question is, who among us will complain of this practice as long as their string is tied to the same kite?
Press #2 for English and pray the wind doesn't calm without warning.
Note: 47% of all home mortgages in the US last year were non-conforming loans.
posted by Localfella at 2:32 PM
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