08-21-2007, 03:28 AM
I'm not sure the Fed is gonna lower interest rates right now, it would give the impression it's okay to make bad investments because the Fed will bail you out! This entire credit fiasco is starting to have a global effect! The situation is so bad, that one must have extremely good credit to get a loan these days! Who is eating all these prime lending mortgages that went bad? I know the Chinese Gov. is hurting from our credit/mortgage fiasco, but who else holds the majority of these loans?
Here is food for thought! Since late 2006, 116 major US Lenders have gone belly up! To me that's a scary thought! But less than 7% of all loans last year were sub prime loans. But does that matter at all? I mean 'CountryWide' is in trouble too.
It's know wonder my loan was changed three different times before I inked my John Hancock this past June. I hope none of you are in the process right now in trying to get a loan to buy a home...what a headache!
Here is food for thought! Since late 2006, 116 major US Lenders have gone belly up! To me that's a scary thought! But less than 7% of all loans last year were sub prime loans. But does that matter at all? I mean 'CountryWide' is in trouble too.
It's know wonder my loan was changed three different times before I inked my John Hancock this past June. I hope none of you are in the process right now in trying to get a loan to buy a home...what a headache!
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Support the 'Jack Herer Initiative'NOW!!