Mortgage lenders

stated “housing prices was spurred in part by people who got rich in the dot.com boom”. (Times, 2005) Then suddenly, news aired about mortgage foreclosures, describing the single biggest financial…

Home ownership is very low . Prices of inflation has declined since 2010 . Lenders have changed since 2008 they offered undocumented immigrants and high risk borrowers loans . That is one of the reason that lead to the housing crisis . The crisis began in 2007 the economy entered a mortgage crisis . It was caused because a lot of homeowners could not pay for where they were staying . That triggered other financial problems in the…

Law In Context 30, no. 1: 114-145.) During the crisis, the Credit Rating Agencies (CRA) generally failed to provide accurate assessment on the risks of subprime mortgage related securities. Actually, the CRA like Moody and S&P gave high rating on those securities. In 2007, the senior tranche of the CDO, which involved subprime mortgages, received the highest rating of…

TALKING TO A BANK OR MORTGAGE COMPANY This is one of the biggest misconception in home buying that exists until today. It is advisable for you to discuss your financing options and get a mortgage pre-approval before you do your home shopping. Why is that? • YOU NEED IT IN MAKING A PURCHASE OFFER - Seller requires proof that you are financially stable prior to accepting your purchase offer. Most sellers prefer buyers who already secured a pre-approval letter from their respective lenders…

bubble crisis of 2008-2009 was predominately due to the banks over extending customers on their housing loans. The process to originate a mortgage is one to show you have sufficient means to make the monthly payments. Bankers overlooked this part of the verification and granted people who could not afford the payments. Unfortunately, those people called their mortgage servicers explaining that they cannot make the payments. Many were upset, some sold their houses, some could not sell their…

For some people, the foreclosures hit them with a force of a bulldozer rolling them out of their comfortable zones and forcing them back into the land of the rental. But for others, like myself, the foreclosure market was an amazing moment when the stars aligned and every house price dropped to prices that some of us could easily finally afford. Not only were we able to afford a house for the first time possibly in history, we were able to have our pick of the litter as it were. It was a buyers’…

The Monster Named Eviction Every year, millions of families are involuntarily moved from their homes to other, less fitting houses. They lose their homes so often, that moving often is simply just apart of their lives. Author Matthew Desmond illustrates this terrible occurrence in the book Evicted: Poverty and Profit in the American City. In the once large city of Milwaukee, Desmond visits eight different families for over a year to capture the struggles of finding any housing in their lives.…

Important Guides on Hiring a Home Inspector Gotcha! Finally you are buying your own house. Choosing house can be costly and stressful. That is why most people who at the same time want to safeguard their hard earned money consider first looking to a home inspector in buying house. Buying a house is a tough responsibility. Some may lend money to housing loan programs just to acquire house while others saves money when buying house. The cost of buying a new house is big while the risk of that…

The facts of Halpert v. Rosenthal are as follows: In early February, defendant (Rosenthal) and the plaintiff (Halpert) were in the process of a house sale. Defendant intended to purchase plaintiff’s house for $54,000 dollars. The house was inspected by the defendant who asked the plaintiff’s real estate agent if the home had termites. The real estate agent informed the defendant that there was not a termite problem in the home. Later, the defendant’s brother-in-law asked the plaintiff if there…

Jennifer Price in her recent essay “The Plastic Pink Flamingo: A Natural History” alludes her view of the United States culture which is that in the 1950’s the American culture was ignorant. The author’s purpose is to illustrate her point of view so that the reader gets to see another perspective of culture in the U.S. Price appeals to her audience by giving facts about the flamingo and how it has and still is seen through eyes across the world. When starting her essay, Price exclaims that…