Please explain to me what I am missing about the mortgage mess.

Please explain to me what I am missing about the mortgage mess.
by

1 Answer

Answer :

answer:I have to agree that the responsibility needs to be focused on the homeowners. For many years we have been hearing about the housing bubble. I don’t see how anyone could think that right after the tech stock bubble burst, it would be a good idea to jump into the housing market. I have always grown up hearing that you never want to get a Adjutable rate on anything and to always get a fixed rate, whether it is for a credit card or a mortgage. People just seemed to forget that the mortgage brokers were just salespeople who wanted to add to their bottom line, regardless of the homeowners fiscal situation.
by

Related questions

Can you help me with our bank mortgage?

Description : Can you help me with our bank mortgage?

Last Answer : answer:If you have an adjustable mortgage, YES. But you should not pay closing fee, title search . . . . again. A fixed mortgage, NO Where is the lawyer from your original closing, your lawyer not theirs ? ? ? Contact the state banking regulator

How can we buy a home without taking out a mortgage? See details...

Description : How can we buy a home without taking out a mortgage? See details...

Last Answer : Yes you can sell one property and buy a new one that is equal or is less than the proceeds from the first. There maybe federal tax implications. But you don’t need to get a mortgage on the new property.

What is a mortgage account number?

Description : What is a mortgage account number?

Last Answer : answer:I guess you can write to pretty near anyone and tell them pretty much anything you want. But if you expect to stay in the house, then you'd better pay off on the mortgage. Mortgages ... or should have received) a notification of the change as a normal part of the mortgage holder's business.

Can someone co sign with you on refinancing a mortgage?

Description : Can someone co sign with you on refinancing a mortgage?

Last Answer : Yes. Odds are good they will have to provide all the same documentation you are going to have to provide and they are of course going to be on the hook for the exact same amount as you. Their credit will be impacted, good or bad, by the way the mortgage is handled.

If your name is on the deed and title...but NOT on the mortgage note...are you still financially responsible for the mortgage?

Description : If your name is on the deed and title...but NOT on the mortgage note...are you still financially responsible for the mortgage?

Last Answer : Yes, that’s the short answer. The the long answer is that is what life insurance is for to pay the mortgage and other bills. You will need a lawyer to go through probate.

If your spouse dies...but you had a mortgage together...do mortgage companies have anything to help you out with payments?

Description : If your spouse dies...but you had a mortgage together...do mortgage companies have anything to help you out with payments?

Last Answer : Uhmmm, no.You may be able to negotiate to extend the term or change interest rate, but that is not automatic.

What happens if I walk away from my mortgage even if I have money in the same bank?

Description : What happens if I walk away from my mortgage even if I have money in the same bank?

Last Answer : answer:im not too sure how it works where you are, but here in spain they would just take the other assets off you. having said that, we also have laws against selling people loans via questionable methods. this is not legal advice

How much money will I save by making a weekly mortgage payment with an extra $30 per payment?

Description : How much money will I save by making a weekly mortgage payment with an extra $30 per payment?

Last Answer : This calculator lets you plug in the details of your loan and the impact of extra payments. Welcome to the collective, by the way.

Are you for or against the mortgage bailout?

Description : Are you for or against the mortgage bailout?

Last Answer : It's a murky situation without a simple answer, IMO. I absolutely do not think that irresponsible people who took on ridiculous amounts of debt that they had no hope of maintaining should be bailed ... that made those loans? The ones who absolutely knew better? They should be tarred and feathered.

What is a good place to get a co-op mortgage loan?

Description : What is a good place to get a co-op mortgage loan?

Last Answer : I got a mortgage for my co-op from CitiMortgage - citimortgage.com - which is a division of CitiBank. I don't know where you live, but they apparently do a large portion of the mortgages on apartments in manhattan (where I live), which are primarily co-ops.

Please explain to me, what would motivate someone in San Diego (or anywhere else) to open a business called a "Smash Shack." Am I missing something?

Description : Please explain to me, what would motivate someone in San Diego (or anywhere else) to open a business called a "Smash Shack." Am I missing something?

Last Answer : very strange. Better there than at home I guess!

How can I make fake stacks of money? (Please see details)

Description : How can I make fake stacks of money? (Please see details)

Last Answer : Download pictures of money on the internet and print it out?

Here's another one, what's fair here? (please see details)

Description : Here's another one, what's fair here? (please see details)

Last Answer : Specify children’s ages?

What would you do if you found a large sum of money? please view more...?

Description : What would you do if you found a large sum of money? please view more...?

Last Answer : I’d have to try to find the owner. The money would be that much sweeter to spend if you had it clear and free if the owner couldn’t be found.

When a debit card does not have a chip, am I still able to track it?

Description : When a debit card does not have a chip, am I still able to track it?

Last Answer : Yes. The company who issued the card will be able to track where yours was last used.

How much of a difference am I allowed to have in tire size compared to what I already have?

Description : How much of a difference am I allowed to have in tire size compared to what I already have?

Last Answer : answer:Just going to add it seems it could maybe affect ABS/TPMS although the place I read this at didn't say to what extent. I guess it is hit or miss depending the vehicle and how it reacts? EDIT: It ... does how much. Like 1 or 2 MPH or will it be way off? Still haven't found clear cut answer.

Am I right or wrong?

Description : Am I right or wrong?

Last Answer : answer:It's not clear at all from your question where you got this money from, or why your sister feels entitled to it. Who gave you the money, and was any of it supposed to go to your sister? ... should be giving her some money, and are trying to use her behaviour to justify not giving it to her.

Am I really spoiled?

Description : Am I really spoiled?

Last Answer : answer:I wouldn't expect my 16 year old to buy her own sneakers and gym shorts that's an expense we, as her parents, would cover. However, it depends on what your parents' money situation is. If ... school necessities, then I can see asking you to use that money (for now). Also, welcome to Fluther!

Am I at fault if we keep this scandal a family secret?

Description : Am I at fault if we keep this scandal a family secret?

Last Answer : answer:Simple. Do you have integrity, or, are you a coward that is willing to allow an elderly person to be financially exploited so as not to have to deal with the fallout? I'd ... necessary to remove this shyster family member from any dealings with your parents finances. Get legal counsel ASAP.

Am I right that my mom shouldn't be keeping this from my sister?

Description : Am I right that my mom shouldn't be keeping this from my sister?

Last Answer : Your mother’s way she might disappointed, your way she will be – even if only temporarily.

I am going to try to get a house in a year or so, In military, need advice.

Description : I am going to try to get a house in a year or so, In military, need advice.

Last Answer : Wow. I would wait until you have about $10,000 in savings. Owning a house gets expensive. It isn't just the mortgage payments, it's the repairs you have to do. If you work hard at starting to ... will still be decent in two years, and by then you will have a few more certainties and some savings.

Help. Am I spending too much?

Description : Help. Am I spending too much?

Last Answer : This is a trick question, right? Anybody who spends that much money on drugs and complains about being poor just can’t be for real.

I am unemployed. Do I pay federal tax on interest rate income i make from investing in treasury notes?

Description : I am unemployed. Do I pay federal tax on interest rate income i make from investing in treasury notes?

Last Answer : I would check the IRS website….but you probably do have to pay taxes on that income if it exceeds a certain amount.

I'm tired of making no money, what else am I qualified to do?

Description : I'm tired of making no money, what else am I qualified to do?

Last Answer : Write us a bestseller!

Why did both my father and step father say that Dungeons and Dragon's would mess me up?

Description : Why did both my father and step father say that Dungeons and Dragon's would mess me up?

Last Answer : Because they don’t know anything of Dungeons and Dragon’s beyond what they’ve been indoctrinated to repeat like parrots. You know, the way cult leaders brainwash their followers to believing many things they’ve never experienced for themselves are of the debil.

I am not on the mortgage to the house. Will the mortgage company still give me the legal documements I need after making the final payment?

Description : I am not on the mortgage to the house. Will the mortgage company still give me the legal documements I need after making the final payment?

Last Answer : If the company thinks your husband is alive, wont they send a document to your house when it's paid off? I don't see how the mortgage company isn't aware he's dead? I guess maybe they aren't ... with the help of a lawyer. It's a simple procedure to get it fixed, assuming you have no children.

I am a married woman for 25 years,but my husband does not want to help me pay mortgage, or any other bills I think he is gambling he never has money, his bank acct is empy. Do I have any legal rights ?

Description : I am a married woman for 25 years,but my husband does not want to help me pay mortgage, or any other bills I think he is gambling he never has money, his bank acct is empy. Do I have any legal rights ?

Last Answer : Math is very important when getting your CNA for many reasons. Math is the basis of any medical field. You will need it to calculate weight of patients, medicine dosage, and to use with any procedures.

Can being on birth control mess up the results of a pregnancy test?

Description : Can being on birth control mess up the results of a pregnancy test?

Last Answer : No. Pregnancy tests test for your HCG levels which has nothing to do with birth control, but if you think you might be pregnant it would be important to stop taking the pills if you would want to keep the ... than a pee on a stick test. Are you late getting your period? Disclaimer: I'm not a doctor.

I have a lot of duplicates in my photo collection, the same picture appearing in different folders, different slide shows. It's a mess. Help!

Description : I have a lot of duplicates in my photo collection, the same picture appearing in different folders, different slide shows. It's a mess. Help!

Last Answer : There certainly is software designed to find duplicate files. take your pick

What tree is the least problematic in any way, (including pipes underground, or mess on sidewalk, etc)?

Description : What tree is the least problematic in any way, (including pipes underground, or mess on sidewalk, etc)?

Last Answer : I personally like palm trees. Japanese maples seem pretty good as well.

In retaliation for messing with the USA vote will, or should, the world mess with the Russian election?

Description : In retaliation for messing with the USA vote will, or should, the world mess with the Russian election?

Last Answer : Umm… that’s what the US does. Everywhere. We need to stop this new cold war Russia nonsense. Now.

How would you have handled this mess?

Description : How would you have handled this mess?

Last Answer : Honestly, I would tell my son that those belonged to other people and they were their personal cards and they’re really not our business and we should leave them ripped up as they wanted them to be.

Will the healthcare mess undo the Republican Party?

Description : Will the healthcare mess undo the Republican Party?

Last Answer : Let’s freaking hope so!

How many times do you mess up at work?

Description : How many times do you mess up at work?

Last Answer : NEVAAAAHHHHH!

What people are you afraid to mess with?

Description : What people are you afraid to mess with?

Last Answer : answer:Mothers. I know women who are militant about breast feeding and home birth and anti-vaccination and raw milk and homeopathy. Except for the vaccination, it’s harmless outside their family, so I don’t engage.

Does the time change, or jet lag, mess with you mentally?

Description : Does the time change, or jet lag, mess with you mentally?

Last Answer : answer:I don't have problems with jet lag most of the time, because my circadian clock gets reset to the new time zone by the sun. But I am having a hard time this week dealing with the time change, and I ... is and the time of day. It usually is not much of an issue for me, but I am getting old.

How can you best minimize the smell, mess, and waste of deep fat frying at home?

Description : How can you best minimize the smell, mess, and waste of deep fat frying at home?

Last Answer : Have a fume hood.

Can one mess up fate? How can one fix messing up with fate?

Description : Can one mess up fate? How can one fix messing up with fate?

Last Answer : “fate” to me is just another term for cause and effect. Even “cheating” is bound to it. You can not cheat cause and effect. Whatever you do, whatever happens to you, is fate. The cold and hard mistress of cause and effect is immutable for objects above the quantum level.

Have you ever felt just before starting a new job that you just won't handle it, that you'll mess up or end up walking off?

Description : Have you ever felt just before starting a new job that you just won't handle it, that you'll mess up or end up walking off?

Last Answer : I am a huge sufferer of imposter syndrome, so, always.

Does coffee make you happy and alert, or just a jittery mess?

Description : Does coffee make you happy and alert, or just a jittery mess?

Last Answer : Jittery mess, but my one can of diet soda mid-day seems to do the happy and alert bit for me.

[SFW] Any fun activities that are best when they leave you in a mess?

Description : [SFW] Any fun activities that are best when they leave you in a mess?

Last Answer : Tackle football.

Canucks, with all of the mess that is going on in the Canadian senate, if you could pick, who would be pm?

Description : Canucks, with all of the mess that is going on in the Canadian senate, if you could pick, who would be pm?

Last Answer : Darrl kates owner of the Edmonton Oliers. Or Kevin O’Leary.

How do I shave my mustache and beard without making a mess of the sink?

Description : How do I shave my mustache and beard without making a mess of the sink?

Last Answer : This is what you want. It works great. I’ve owned several over the years.

What tools will I need to clean up a sump pump mess?

Description : What tools will I need to clean up a sump pump mess?

Last Answer : This sounds like a HazMat scene. You may need to get a professional mold removal job done. The mask is a good idea BUT need to have the mask fitted and thoroughly cleaned after every use. You ... totally covered with mold and mildew. The studs, walls and flooring that were wet have to be replaced.

Has your opinion of someone ever been totally changed 180 degrees after you saw the inside of their personal living space (i.e. their house being a total mess)?

Description : Has your opinion of someone ever been totally changed 180 degrees after you saw the inside of their personal living space (i.e. their house being a total mess)?

Last Answer : answer:No, but I did decide on the spot that I would never eat food that came from her house. To spare you the gory details, let’s just say – nasty.

How Can I not be nervous and mess up in softball?

Description : How Can I not be nervous and mess up in softball?

Last Answer : answer:What you are feeling is the norm and not the exception. Is there any coach at school who can teach you some of the tricks to moderate your stage-fright, butterflies, or feelings of panic? I know that ... don't know what league, or select means. (If my team and I were practicing )

What would cause a rapid dripping of water under an auto other than condensation on the A/C unit and why does God mess with us when we do good deeds?

Description : What would cause a rapid dripping of water under an auto other than condensation on the A/C unit and why does God mess with us when we do good deeds?

Last Answer : answer:On a humid day, that AC unit can develop and drip a hell of a lot of condensation. A 12” pool isn’t so much, really. What do you mean ‘mess with’? It sounds like your goodness was rewarded… somewhat.

How do I fix this frustrating mess? (Computer/Firefox help)

Description : How do I fix this frustrating mess? (Computer/Firefox help)

Last Answer : You can’t do it through the control panel screen?

Any VERY easy low mess Easter Egg coloring ideas?

Description : Any VERY easy low mess Easter Egg coloring ideas?

Last Answer : I should mention that if it stays unseasonably warm, we will go outside with her naked or diapered only and just let her go to town on the eggs and then dunk her in the kiddie pool afterwards. But I’d like an indoor backup plan.

Do you think the Democrats and Republicans,can ever work together to get the States out of the mess it is in?

Description : Do you think the Democrats and Republicans,can ever work together to get the States out of the mess it is in?

Last Answer : answer:What do you propose they do? What policies do you think the parties should support or enact? Can you please be more specific?