Posted on 05/05/2018 1:24:31 PM PDT by E. Pluribus Unum
It’s actually less than 6% that commit over 50% of the murders and rapes in this evil country.
I have a friend who lives down the street from me who is financially stupid. Her house has been so close to foreclosure twice.....they were ready to come out and put the notice on the door.
She took Heloc after heloc out. Any time she needed money....heloc. She redid her kitchen with a heloc. She bought 2 different cars with refinances.
The first time it was almost in foreclosure the bank voluntarily made a deal with her to keep her in it because she had worked there for over 20 years. The second time she used Keep Your Home California and they paid $80 something thousand on her mortgage.
We stayed in the same type of house, made our payments, and paid cash for any repairs, upgrades, etc. paid our house off. Now she says we were lucky. I told her we didn’t get almost $90k from the government to help pay for our house. She’s the lucky one. She didn’t like that much.
So our house is paid for and her house is not worth what is owed on it. Because if she sells it within 5 years of getting the government money she has to pay them back. And.......she’s having trouble making the smaller payments now.
You just can’t help some people.
I worked for one of those “big banks” about 20 years ago.
I have it on good personal authority that two NFL players at the time making over $300,000 per year couldn’t budget nor get accepted for a loan from my group.
And a current “Hall of Fame” BB scumbag couldn’t even pay his 5 car payments on time.
In addition to all of that, most blacks who actually did pass credit checks had rates over 15% due to their image lifestlyes that they led.
It’s a major disease in that community. Doesn’t matter their salary, they owe at least twice what they make.
Why??? because they cant afford the mortgage!!!!!!!! that’s why!
My proposal is to give every black male who is out of prison a mortgage, it’s probable that would be less expensive than incarceration.
Because they’re black? Or are they being treated like white people with poor credit or low income?
Another wrinkle - I had applied for a loan with a mortgage company some time ago - I had been rejected by a bank, but my mom told me to give it another try.
I went around and around with the loan officer - saying “is there anything on here you have a problem with?” She said, “No, it looks good.”
I never got rejected but I never got the money either.
Maybe banks are required to give an up or down answer within a certain time - not sure.
Oh no, here we go again. Ignoring lending guidelines and prudent lending practices leads to more mortgage defaults. The real test in qualifying for a mortgage is NOT race but the ability to pay it back.
We’ve had a ride on this Merry-Go-Round before.
It ends up with the government forcing lenders to give loans to people who have no way of paying them back.
How many billions in bad loans did taxpayers get stuck paying off last time?
There are lies, damned lies, and statistics.
If there is a disparity in approvals it MUST be due to racism. Credit ratings, income vs monthly payments and other factors determine if you get approved. I’m surprized Zillow jumped on the social justice/racism bandwagon. They should know better.
This is how the first housing bubble occurred...the bankers got shaken down for being ‘racist’, then had to fork over billions, the the fog a mirror loans were made not turning anyone away, for fear of lawsuits and being called racist...here we go again...the era of more free stuff will cycle back again.
Yikes! What an ugly reality.
That’s funny. Part of the housing collapse was banks lending on multiple homes to the same minority person. One gal in Sacramento lamented she bought 5 houses in a few months’ time, but couldn’t find renters at the price she wanted to charge for rent. So she walked on all five. Then you have those who were sold homes in beautiful developments by crooked REAs, then didn’t pay a dime in mortage, but tore appliances and wiring out of the walls before they vacated a year or so down the road (with a new assumed identity). Several books could be written on the abuses and scandals of the California housing market that crushed people’s equity for years, the majority being minorities and their crooked minority REAs and mortgage brokers who lent to anyone breathing. The REAs didn’t care because they got their commission and the mortgage brokers didn’t care because they’d bundle and sell the mortgages as fast as a jackrabbit.
Because they’re well, Amish.
I'm breaking out my handkerchief over how "unfair" that is.
In fact it is eminently fair, as in general Asians pay their bills and don't waste money on stupid crap.
Probably have higher credit scores than other races as well.
I wonder if Zillow thought to put that in this idiotic press release.
That video is classic. The bus scene kills me every time.
Uh, they assumed Obama would pay their mortgage so they applied in spite of bad credit?
I did the same thing today - no other radio stations on the car radio.
NPR was still asking for money and they were thanking individuals and companies. At no time did they thank the American tax payer for the money they receive.
They should not have said they were a member of Lasmbda Lambda Lambda.
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