Just twenty years ago, a potential homebuyer had to put five percent down, and there were no ”no-closing cost” loans. The menu of adjustable rate mortgages were limited and those who had bad credit had to pay interest rates approaching 20.0%. Today, we have ”no-money down” programs, no point mortgages and affordable alternatives for those with hard to document income and those with uneven payment histories.
Mortgage lending has changed and finance companies no longer have the advantage. Corporations that saw the trend coming turned to predatory credit card financing. Those charged with predatory lending, such as HSBC’s Household International, Beneficial, and Household Finance no longer have the sub-prime market locked up. While today’s new “creative’ mortgages may not be good in the long run they do push predators out of the market mainstream.
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[...] “Mortgage lending has changed and finance companies no longer have the advantage. Corporations that saw the trend coming turned to predatory credit card financing. Those charged with predatory lending, such as HSBC’s Household International, Beneficial, and Household Finance no longer have the sub-prime market locked up. While today’s new “creative’ mortgages may not be good in the long run they do push predators out of the market mainstream.” (courtesy of Household – HSBC Watch) Take your business to the next level with a Virtual PBX with music on hold. Get rid of your fax machines. Toll free or local number. Try RingCentral and get alerts on your phone. Extend your marketing and research departments. 0 Views [...]