Lending Information 4 You

Thedude27 asked:


What is the truth in lending law for?
is there even such a thing as a teaser rate on a home mortgage? I mean other than an ARM which is competely explained to you in agonizing detail when you sign a mortgage?
Could we maybe just come up with a new law or 2. Do we really need another government agency?

Matthew D asked:


Today the band is playing on the deck of our economy, and credit is deadlocked due to sub prime lending.
Is it true that the liberals are responsible, for playing the race card in getting low income persons loans beyond their means?
Or is that just a canard, and are the conservatives actually responsible for cutting interest rates to keep people spending during a declining labor market?

I do not like them, Sam I am. asked:


Or, are we not worried about that right now?

Are we just going to worry about that bridge when we get to it?

guitar god asked:


Why did you screw up the mortgage industry with government mandated forced lending practices to banks under the Clinton administration?

Sean asked:


Investor’s Business Daily: “The White House thinks it can jawbone banks into lending to people they don’t want to lend to. We’ve been down this road before, and it led all the way to the 2007 financial meltdown. The president on Monday gave a tongue-lashing to the ‘fat-cat bankers on Wall Street,’ as he called them the day before. He wants them to make more loans to small businesses and consumers to give the economy a boost. We tried this before. Indeed, it’s the very source of the financial and economic calamity of the past two years.”

Tara for OBAMA! asked:


Im a democrat. Voting for Obama.

I want to be knowledgable on this topic and know the facts. Who mainly contributed to our current economic situation via the subprime lending market? Please be concise!

Thanks to everyone! Please dont be rude!

<3

Bob G asked:


Is it possible that the haste in making loans available to everyone even unqualified applicants in order to create the illusion of fair lending practices is the actual cause of the lending failure? Clintons administration forced lenders to lower qualifications for loans to allow more loans to be available for minorities. Could these lower qualifications have been a poison pill in the lending world?

tired_of_lies_2 asked:


And how come we are not being protected by the fiscally responsible republicans? All I see is socialist Republicans in Washington. Corporate socialists are still socialists.