Comments on: The Subprime Mortgage Crisis Explained with Cartoons http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/ The Neat Side of the Web Thu, 26 Nov 2009 00:05:43 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: Brad http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/comment-page-1/#comment-1204987 Brad Sat, 22 Nov 2008 16:27:24 +0000 http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/#comment-1204987 I keep going back to when Alan Greenspan lowered the prime rate to 1% or something lower after 9/11. All of this cheap money rushed into the markets. My old boss use to say to people "good ain't cheap, and cheap ain't good." Well, cheap money proved out to be not good. Should have kept rates higher so people would only buy houses who could afford to pay. I keep going back to when Alan Greenspan lowered the prime rate to 1% or something lower after 9/11. All of this cheap money rushed into the markets.

My old boss use to say to people "good ain't cheap, and cheap ain't good." Well, cheap money proved out to be not good. Should have kept rates higher so people would only buy houses who could afford to pay.

]]> By: cyrus jay lingad http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/comment-page-1/#comment-1086029 cyrus jay lingad Wed, 15 Oct 2008 05:51:22 +0000 http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/#comment-1086029 if anyone need a help about mortgage, just visit my website at http://www.mortgageratereduction.net/ and you'll see......^_^ if anyone need a help about mortgage, just visit my website at http://www.mortgageratereduction.net/ and you'll see......^_^

]]> By: Mike S. http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/comment-page-1/#comment-639396 Mike S. Thu, 03 Jul 2008 17:52:10 +0000 http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/#comment-639396 Lender Police at http://www.lenderpolice.com seems to have taken care of the mortgage lender loan fraud problem for Borrowers, Closing Agents, Mortgage Lenders, and Real Estate Agents. Always use Lender Police after you apply for a mortgage loan. They’ll tell you if your lender is giving you a good deal or not in one of two ways. You can purchase a good faith estimate review for $99 that will tell you if the interest rate, points, fees, and rebates you’re being charged is appropriate for your situation. The loan document review for $199 verifies that the loan documents that you’re signing are for the same loan that you were quoted and your lender didn’t slip in any extra points, fees, pre-payment penalties, or is receiving a lender rebate for selling you a higher interest rate than you qualify for. A mortgage loan evaluation from Lender Police is the only way to guarantee you lender isn’t trying to rip you off. Lender Police at http://www.lenderpolice.com seems to have taken care of the mortgage lender loan fraud problem for Borrowers, Closing Agents, Mortgage Lenders, and Real Estate Agents.

Always use Lender Police after you apply for a mortgage loan. They’ll tell you if your lender is giving you a good deal or not in one of two ways. You can purchase a good faith estimate review for $99 that will tell you if the interest rate, points, fees, and rebates you’re being charged is appropriate for your situation. The loan document review for $199 verifies that the loan documents that you’re signing are for the same loan that you were quoted and your lender didn’t slip in any extra points, fees, pre-payment penalties, or is receiving a lender rebate for selling you a higher interest rate than you qualify for.

A mortgage loan evaluation from Lender Police is the only way to guarantee you lender isn’t trying to rip you off.

]]> By: Parker http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/comment-page-1/#comment-490223 Parker Wed, 26 Mar 2008 11:50:33 +0000 http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/#comment-490223 I've seen these and still don't think they're that educational. There's a lot of background education that's needed to understand the full scope of things. If I don't know what a CPO is or the relationship between mortgage lenders and banks (which is shady enough to be confusing on its own) then I won't know why this can be expanded to cripple a nation's economy (don't we have many other things to deal with besides housing?) or how this is as bad as The Great Depression if thousands of people aren't migrating from factory to factory looking for work. It'd be great if people supplied simple FAQs to be answered by an expert..and a cartoon isn't necessary. Something in between crappy art and a post-grad economics lecture would be wonderful. I've seen these and still don't think they're that educational. There's a lot of background education that's needed to understand the full scope of things. If I don't know what a CPO is or the relationship between mortgage lenders and banks (which is shady enough to be confusing on its own) then I won't know why this can be expanded to cripple a nation's economy (don't we have many other things to deal with besides housing?) or how this is as bad as The Great Depression if thousands of people aren't migrating from factory to factory looking for work. It'd be great if people supplied simple FAQs to be answered by an expert..and a cartoon isn't necessary. Something in between crappy art and a post-grad economics lecture would be wonderful.

]]> By: OminousRed http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/comment-page-1/#comment-489987 OminousRed Wed, 26 Mar 2008 04:27:09 +0000 http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/#comment-489987 ::: To BEAN ::: This affected more than just rich people. There were a lot of people who were first time buyers that this affected. In my office and circle of friends alone, about 60% of them were affected by this. It wasn't just people who bought homes, there were people who refinanced too. Basically, a lot of people put themselves in debt or ruined their credit. ::: To BEAN :::

This affected more than just rich people. There were a lot of people who were first time buyers that this affected. In my office and circle of friends alone, about 60% of them were affected by this. It wasn't just people who bought homes, there were people who refinanced too.

Basically, a lot of people put themselves in debt or ruined their credit.

]]> By: oakling http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/comment-page-1/#comment-489938 oakling Wed, 26 Mar 2008 02:57:34 +0000 http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/#comment-489938 thank you! I've been working on understanding how my own personal money works for years (through awesome Debtors Anonymous) and i still don't understand how all the national economic hoo-ha works, or stuff like bonds and bond issues and interest rates... seems like time for me to start studying that stuff! thank you! I've been working on understanding how my own personal money works for years (through awesome Debtors Anonymous) and i still don't understand how all the national economic hoo-ha works, or stuff like bonds and bond issues and interest rates... seems like time for me to start studying that stuff!

]]> By: bean http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/comment-page-1/#comment-489407 bean Tue, 25 Mar 2008 15:12:15 +0000 http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/#comment-489407 People don't understand the "mortgage crisis" because it's about as real as global warming. A handful of rich people and house-flippers bought secondary homes they couldn't afford, and when the housing market stopped expanding, they lost their shirts. There's no friggin' financial crisis, except for the rising cost of energy. People don't understand the "mortgage crisis" because it's about as real as global warming. A handful of rich people and house-flippers bought secondary homes they couldn't afford, and when the housing market stopped expanding, they lost their shirts. There's no friggin' financial crisis, except for the rising cost of energy.

]]> By: Not Happy http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/comment-page-1/#comment-489256 Not Happy Tue, 25 Mar 2008 12:11:03 +0000 http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/#comment-489256 Err....dare I say it, these are taken from www.fintag.com! Err....dare I say it, these are taken from http://www.fintag.com!

]]> By: Sue Dunham http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/comment-page-1/#comment-489173 Sue Dunham Tue, 25 Mar 2008 10:47:12 +0000 http://www.neatorama.com/2008/03/25/the-subprime-mortgage-crisis-explained-with-cartoons/#comment-489173 Thanks. That explains the feeling I've had for some time now. This is fraud by another name, just like the Savings and Loan crisis in the 80s. Deregulating these guys was bad the first time, and it was a bad idea again. Thanks. That explains the feeling I've had for some time now. This is fraud by another name, just like the Savings and Loan crisis in the 80s.
Deregulating these guys was bad the first time, and it was a bad idea again.

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