Some borrowers would also be able to repay their loans by selling their homes into a strengthening market
It is at this point fascinating; and pathetic to watch ‘the financial community’ slosh around in its tanks of s**t poured straight from its eloquently designed pipeline.
Stories from the media would be wiser to simply start telling the truth. But they wont get it. They are still delusional, believing that the water and electricity services to Manhattan can somehow keep on infinitely…
Everything is paid for in false dollar, From false transactions, by false brokers, making illegitimate trades, based on grossly exaggerated numbers, calculated by a computer network specializing in theoretical applications.
Well at least the BRICS nations will have plenty to offer the planet, while the liars in North Carolina and everywhere else get to reap exactly what they have sowed.
This claim is the sole indicator, but no longer commemorates the original lender or the latest in a series of alleged owners
A HELOC with a ten-year interest only payment schedule, followed by balloon payments and tripling monthly payments, is an obviously abusive credit product. It’s got “Designed to Fail” written all over it.
A few questions we might ask: why would anyone take out a loan on their house, knowing that they’ll have to come up with a $25,000 payment ten years down the road, or risk losing their home? Assuming that the person is not especially stupid or delusionally optimistic, we might guess that either 1) they are unaware of the predatory loan conditions, or 2) they have been convinced that they won’t be a problem.
My educated guess is that some people were sold these loans without being made aware of the dreadful provisions and that others were told, “oh, don’t worry, you’ll be able to re-finance long before the payment resets and the balloon payment comes due.” As the Reuters article states:
For those that have had to question the reality of their loan, a different picture emerges
There are scenarios where everything works out fine. Continue reading “Some borrowers would also be able to repay their loans by selling their homes into a strengthening market”