Another sign of Real estate bust? (link) - GoFuckYourself.com

$5 submissions · 10-24-2005, 02:21 PM

http://www.latimes.com/news/printedi...42,print.story

How can this be? You have GOOD credit but you're lumped into the higher risk category?

After Shock Media · 10-24-2005, 02:24 PM

Thats nothing to do with a burst. That is just idiot consumers not doing their research and grabbing the deal without reading the print.

Drake · 10-24-2005, 02:26 PM

Nope, as the article says "borrower beware". When handing out tons of loans, companies will jack up the rates so that you pay more if you don't know that you can get a better rate elsewhere. And as for those pre-payment penalties, well you have to read the fine print or get a lawyer to before you sign.

makefuckingmoney · 10-24-2005, 02:42 PM

its the income to debt ratios..very few people in socal could actually afford the house they are in if they hadnt gotten 3x what they paid for their last one

$5 submissions · 10-24-2005, 04:05 PM

Quote:

Originally Posted by makefuckingmoney

its the income to debt ratios..very few people in socal could actually afford the house they are in if they hadnt gotten 3x what they paid for their last one

EXACTLY! And financing schemes mentioned in the article doesn't help the situation and only make it worse.

10-24-2005, 02:21 PM	#1
$5 submissions I help you SUCCEED Industry Role: Join Date: Nov 2003 Location: The Pearl of the Orient Seas Posts: 32,195	Another sign of Real estate bust? (link) http://www.latimes.com/news/printedi...42,print.story How can this be? You have GOOD credit but you're lumped into the higher risk category? __________________ Need a NON-ADULT income stream? We build your YOUTUBE CHANNEL for only $20 per video! For Hire: $3/hour or $400 per month Marketing Specialist Virtual Assistants

10-24-2005, 02:24 PM	#2
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	Thats nothing to do with a burst. That is just idiot consumers not doing their research and grabbing the deal without reading the print. __________________ [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

10-24-2005, 02:26 PM	#3
Drake Hello world! Industry Role: Join Date: Mar 2003 Posts: 12,508	Nope, as the article says "borrower beware". When handing out tons of loans, companies will jack up the rates so that you pay more if you don't know that you can get a better rate elsewhere. And as for those pre-payment penalties, well you have to read the fine print or get a lawyer to before you sign. Last edited by Drake; 10-24-2005 at 02:27 PM..

10-24-2005, 02:42 PM	#4
makefuckingmoney Confirmed User Join Date: Oct 2003 Posts: 3,277	its the income to debt ratios..very few people in socal could actually afford the house they are in if they hadnt gotten 3x what they paid for their last one