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Re: LMAOOOOOO HousingWire reports Carrington Mortgage Services launches subprime lending program. 

By: nacl01 in POPE IV | Recommend this post (3)
Wed, 04 Apr 18 7:13 PM | 63 view(s)
Boardmark this board | POPES NEW and Improved Real Board 		Msg. 46466 of 47202
(This msg. is a reply to 46434 by micro)
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they all got creative and came up with toxic things

I recently heard an ad for a program for people 62 and over where they can buy a home and combine it with a reverse mortgage and the person buying the house has NO MONTHLY PAYMENTS. If that isn't a recipe for disaster I don't know what it is.

nacl


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The above is a reply to the following message:
Re: LMAOOOOOO HousingWire reports Carrington Mortgage Services launches subprime lending program.
By: micro in POPE IV
Wed, 04 Apr 18 6:40 AM 		Msg. 46434 of 47202

Here is why.

They learned by watching that they too can get bailouts by the taxpayers just like all the other mortgage lenders did who practiced the very same reckless practices. FANNIE, FREDDIE, and lots of other creditors.

THEN they all got creative and came up with toxic things called derivitives. These were all the under water mortgages because they all lent money to people without checking if they had a job, could they afford the loan, sub prime mortgages, 100 percent mortgages, etc.

EVERYONE got bailed out. Only the people who paid their mortgage payments as they should and their federal taxes got screwed.... Like we will again.......
Barf Barf Barf


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