Subprime Fallout Will Cost U.S. Billions

RE:Subprime Fallout Will Cost U.S. Billions

Sebastian — Fri, 02 Nov 2007 11:00:00 GMT

Some of you are funny. "the world is ending?" "The government is giving away money to people that cant afford their homes??" Give me a break - the world is not ending, and the gov is NOT giving money to people that are losing their homes. Wake up - look at the BIG picture - aside from depreciating YOUR equity, foreclosures cost banks $$$ and hinder a bank's ability to lend to ANYONE. Stock prices will fall which hurts YOUR 401k. - stop blaming anyone and be happy we are finding solutions

RE:Subprime Fallout Will Cost U.S. Billions

carl — Wed, 31 Oct 2007 11:00:00 GMT

the problem is mortgage brokers put stress on the appraiser to hit the magic number, else no more business. take some of the money that is given to the brokers (ysp) and get a review. if all appraisals went to review it would help out alot. make mortgage lenders carry E&o insurance. probably more omissions are being made than errors. after so many went into foreclosure quit buying their paper. mortgage lenders are getting off way to easy. yes i was once a broker.

RE:Subprime Fallout Will Cost U.S. Billions

Peter — Tue, 30 Oct 2007 11:00:00 GMT

I've seem a lot of different opinions regarding the subprime crisis.You may be able to find the answer in this documentary: zeitgeist movie dot com. You have to skip to almost half of the documentary.

RE:Subprime Fallout Will Cost U.S. Billions

Notamused — Tue, 30 Oct 2007 11:00:00 GMT

Peter, you are either (1) insane or (2) writing this nonsense with an agenda. Who do you work for? Obviously you aren't going to tell all of us but your little theological subversion clearly indicates you are attempting to misdirect people stupid people, right? (the ones who believe in god and all that other mystical nonsense) You are a playful little prick.

RE:Subprime Fallout Will Cost U.S. Billions

Justin — Mon, 29 Oct 2007 11:00:00 GMT

If everyone could only see we are not in control of our lives. No we are dependent on so many other people doing what is right. There is no solution, except for destruction of the system as we know it. And the greatest depression the world has ever known, and this was all predicted in the Bible. Everyone says end of the world, no it is the end of the World as we know it. Forget opinions this is going to be greater than the world flood Noah predicted and everyone laughed. Until it started to rain, and by the time there were seconds from death they wished they would have believed. Now we see, by 2012 we will have a flood on our hands of another kind, prepare or laugh as the people who perished in the days of Noah. We are all connected we are forced to depend on one another, and we are going down fast, and the investors on the stock market will lose everything and will finally be equal to those they took advantage of. Money will be worth nothing, and no respect will be given to the rich folks from those days forward, their greed a material love for this world will serve their pain, and it is the single best thing that will ever happen to this world, and there is nothing we can do to stop it. That is the truth and it does hurt, everyone needs to prepare for living their lives now because 2012 is the year this will all start to a happen because if you know how to figure the GODLY MATH.

RE:Subprime Fallout Will Cost U.S. Billions

Faith — Sun, 28 Oct 2007 11:00:00 GMT

Brokers deserve much of the bashing they have received. Loan modifications are a joke. Mortgage Servicing Companies are to blame with much of what is going on in this country. It is affecting the auto industry, Lowe's and Home Depot, now even Walmart. Things will only get worse until these ruthless people are stopped.

RE:Subprime Fallout Will Cost U.S. Billions

DaLoanShark — Sat, 27 Oct 2007 11:00:00 GMT

I wish the media would get off the Broker Bashing and realize that we found borrowers who wanted what was offered by the wholesale lenders, who were selling what Wall Street was buying. We don't make up the guidelines, underwrite, process, appraise, do the title work or fund, we supplied the applications. Many others have a much greater influence on the process and could of at any time declined to fund "risky" applications. Make hay while the sun shines thinking, worry about the impact later.

RE:Subprime Fallout Will Cost U.S. Billions

anonymous — Fri, 26 Oct 2007 11:00:00 GMT

If I invested $500k in the stock market, and the stock dropped to $200k would you give me back my losses? If I bought a $400k house, and I make minimum wage at Walmart, does that situation require sympathy? No, it is stupidity on my part.I do not feel sorry for those getting foreclosed on, I feel sorry for the neighbor who pays their mortgage every month. They are the ones who truly suffer substantial losses. Say goodbye to your equity because your neighbor cannot pay their mortgage

RE:Subprime Fallout Will Cost U.S. Billions

the patient fisherman — Fri, 26 Oct 2007 11:00:00 GMT

I have been in the Real Estate/Mortgage business for over 30 years. I am amazed at the amount of disinformation going out to the public in CNBC and even the Wall Street Journal. We will see this problem lead into a world catastrophe that will make the crash of 1929 and the resulting depression look like a cake walk. We have only ourselves to blame. It is rooted to a vice or a deadly sin called greed. Maybe we can't handle the truth. I only hope we can dodge this somehow.

RE:Subprime Fallout Will Cost U.S. Billions

TLC Processors - Contract mortgage processing — Fri, 26 Oct 2007 11:00:00 GMT

I really like this article, there is some great advice for some quick action to take on correcting this major problem. It's a small world in this business, we're in contract processing and we're all connected and we've seen this coming. It's time to get it right for everyone. Hope we get through this mess o.k.