IWETHEY v. 0.3.0 | TODO
1,095 registered users | 0 active users | 0 LpH | Statistics
Login | Create New User
IWETHEY Banner

Welcome to IWETHEY!

New Um, do you have any bonds?
Banksters use other people's money. You and your neighbors give them money to get interest. One of the ways the banksters earn money for their depositors is via mortgages.

If it's such a great business, why don't more people cut out the middle man and provide mortgages themselves??

You know this.

The problems with housing and mortgages isn't the S&L banksters giving out 4-5% 30 year mortgages, it's the CDOs and so forth, the PMI scam, and the lack of affordable housing (zoning, NIMBY, etc.).

Cheers,
Scott.
New Re: why don't more people cut out the middle man and provide mortgages themselves?
Seriously? Ever heard of a bank charter? They give those out like candy, do they?
bcnu,
Mikem

It's mourning in America again.
New Re: why don't more people cut out the middle man and provide mortgages themselves?
https://www.nolo.com/legal-encyclopedia/seller-financing-home-sales-30164.html

Seller financing can be a useful tool in a tight credit market. It allows sellers to move a home faster and get a sizable return on the investment. And buyers may benefit from less stringent qualifying and down payment requirements, more flexible rates, and better loan terms on a home that otherwise might be out of reach.

Sellers willing to take on the role of financier represent only a small fraction of all sellers -- typically less than 10%. That's because the deal is not without legal, financial, and logistical hurdles. But by taking the right precautions and getting professional help, sellers can reduce the inherent risks.

[...]


HTH!

:-)

Cheers,
Scott.
New Re: why don't more people cut out the middle man and provide mortgages themselves?
Ah! So, all I have to do is have enough money to purchase several tens of thousands of homes so that I will be the Seller in each case and then I don't have to be a bank to make the outrageous sums that the bankster class does on home mortgages.

I completely understand now and apologize for my lack of imagination.

;0)
bcnu,
Mikem

It's mourning in America again.
     Hey Peter, do you believe Carney's right about property values with no-deal? -NT - (mmoffitt) - (18)
         Sort of. I think there's a bit of exaggeration for effect. - (pwhysall) - (17)
             Never heard of that help-to-buy racket - (drook) - (14)
                 It's not that people lose their homes... - (pwhysall) - (13)
                     Careful with that "appreciates" assumption. Too much of that gave us the 08/09 crisis. -NT - (mmoffitt) - (12)
                         A symptom, not a cause. - (pwhysall) - (11)
                             I see your point. - (mmoffitt) - (10)
                                 It's probably more complex over there than it is over here. -NT - (pwhysall) - (1)
                                     As are most things. We haven't many adults running things here. -NT - (mmoffitt)
                                 Location, Location, Location. - (Another Scott) - (7)
                                     Wait a second. Are you saying that income inequality is the most pressing issue? :0) -NT - (mmoffitt) - (1)
                                         Voting is the most pressing issue. But there are many, many other important ones... -NT - (Another Scott)
                                     Re: But don't count on prices falling to "affordable" levels in areas where people want to live. - (mmoffitt) - (4)
                                         Um, do you have any bonds? - (Another Scott) - (3)
                                             Re: why don't more people cut out the middle man and provide mortgages themselves? - (mmoffitt) - (2)
                                                 Re: why don't more people cut out the middle man and provide mortgages themselves? - (Another Scott) - (1)
                                                     Re: why don't more people cut out the middle man and provide mortgages themselves? - (mmoffitt)
             Thanks! That's inline with what I think about Southern California's prices. - (mmoffitt) - (1)
                 Re: Thanks! That's inline with what I think about Southern California's prices. - (pwhysall)

Learn to swim.
168 ms