Posts Tagged ‘bank’
What is the main problem with banking in Atlanta Georgia? While early reports show huge default and foreclosure rates inside the downtown loop, many homes were sold outside of Atlanta. Today, another bank was closed.
In two civil lawsuits filed Friday morning the New Mexico Attorney General is asking a judge for immediate action to stop foreclosures on the two properties.
Two former Wells Fargo subprime-loan officers say bank employees targeted predominantly black ZIP codes and churches and deceptively steered prime borrowers into subprime loans. Selling the most profitable product is, by itself, not a crime. Mortgage brokers across the United States did the same thing.
For many years it has been our opinion that predatory lending became the acceptable norm, followed by a period of aggressive Wall Street greed. When predatory became subprime, and with regulators totally asleep, these 25 institutions effected the entire world economy:
It one thing to be put in a position where you can’t make your payments. Job loss, illness, or loss of a loved one is beyond our control. On the other hand it is quite another issue when your credit card company raises the monthly payment well beyond your budget.