tag:blogger.com,1999:blog-1194375569044391746.post8020853460363476165..comments2024-03-29T02:00:55.623-04:00Comments on Corporate Justice Blog: Will talk of economic recovery preclude consideration of the causes of the financial collapse?Steven Ramirezhttp://www.blogger.com/profile/16741346526253732489noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1194375569044391746.post-85086806321777408092010-04-18T15:42:29.885-04:002010-04-18T15:42:29.885-04:00Everyone dreams of home ownership, however in mino...Everyone dreams of home ownership, however in minority communities that dream is harder to achieve. Driving through minority communities you don't find the big five-real estate offices, you do find an abundance of check cashing stores. Is it any wonder that minorities would be subjected to predatory lending when they are under-serviced throughout the process. <br /><br />Note:<br />The rule of thumb for subprime loans were:<br />A++ 125% financing 721-850<br />A+ 100%, 103%, 107% financing 700-720<br />A Borrower pays stated rates 660-699<br />A- Borrower pays .5%-1% more than A 620-659<br />B Borrower pays 1%-2% more than A 580-619<br />C Borrower pays 2%-3% more than A 579 -Mohammednoreply@blogger.comtag:blogger.com,1999:blog-1194375569044391746.post-52561483297316093142009-08-22T17:10:59.765-04:002009-08-22T17:10:59.765-04:00Predatory lending results in exorbitant fees abov...Predatory lending results in exorbitant fees above the amount needed or requested for improving a dwelling. Reverse mortgages and home<br />equity loans are suppose to benefit seniors and<br />low income borrowers.However,the attached fees are so excessive that wise thinking applicants<br />prefer to use portions of their "nest eggs" and settle for less than previously planned. Until<br />lending institutions are compelled to treat borrowers with integrity and concern as opposed<br />to greed and disdain, efforts need to be made to<br />educate and inform the potential victims.Anonymoushttps://www.blogger.com/profile/00964695782479523197noreply@blogger.com