2007-12-07 10:33:03 · 5 answers · asked by Pablo P 1 in Business & Finance ➔ Renting & Real Estate
They are loan sharks.. too many stupid lenders gave out loans to people a few years back.. that they knew couldn't afford homes. Yeah, I agree, people still have to pay.. but there really needs to be stricter guidelines in qualifying people for loans.
2007-12-07 11:18:35 · answer #1 · answered by Cupid 6 · 0⤊ 0⤋
Dear Customer:
Did you not read the disclosures of how your note would work before you closed?
Did you know that you did not have to sign up for an ARM rate, but had the option of a fixed where your payment wouldn't go up, and you DECLINED?
Did you borrow 100% without a down payment, thinking that an increase in home value was a sure thing?
Did you maintain your credit, so in the event you needed to get out of your ARM, you could? Or did you run back up your credit cards where you no longer debt qualify?
Did you not hire an attorney for closing?
People need to ask themselves these questions before they start blaming the lender.
2007-12-07 11:56:16 · answer #2 · answered by Expert8675309 7 · 0⤊ 0⤋
Dear Pablo. Countrywide helped you when it qualified you and gave you money for a mortgage with which to buy a house. Countrywide is a lending agency, not a charitable organization.
2007-12-07 12:36:00 · answer #3 · answered by acermill 7 · 0⤊ 0⤋
Thank you Mary!
People have to be responsible for what they buy and papers they sign.
The loan companies did some bad things as well..not getting proof of income..etc.
I am ashamed of our President. We should not be bailing out anyone! I have to pay for what I sign my name to...i guess it gets down to RESPONSIBLITY!
Good questions Mary and I vote for you!
2007-12-07 13:02:14 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Why aren't the clients making payments as agreed to?
2007-12-07 10:46:39 · answer #5 · answered by fourwaystreet 2 · 1⤊ 0⤋