bostonbubble.com Forum Index bostonbubble.com
Boston Bubble - Boston Real Estate Analysis
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

SPONSORED LINKS

Advertise on Boston Bubble
Buyer brokers and motivated
sellers, reach potential buyers.
www.bostonbubble.com

YOUR AD HERE

 
Go to: Boston real estate bubble fact list with references
More Boston Bubble News...
DISCLAIMER: The information provided on this website and in the associated forums comes with ABSOLUTELY NO WARRANTY, expressed or implied. You assume all risk for your own use of the information provided as the accuracy of the information is in no way guaranteed. As always, cross check information that you would deem useful against multiple, reliable, independent resources. The opinions expressed belong to the individual authors and not necessarily to other parties.

Escalating mortgage crisis expected to further depress house

 
Post new topic   Reply to topic    bostonbubble.com Forum Index -> News & Reference Suggestions
View previous topic :: View next topic  
Author Message
news



Joined: 14 Jul 2007
Posts: 0
Location: Greater Boston

PostPosted: Sat Aug 18, 2007 10:05 pm GMT    Post subject: Escalating mortgage crisis expected to further depress house Reply with quote

Use this forum thread to discuss the following link.

Description: Escalating mortgage crisis expected to further depress house sales and prices in Massachusetts this fall
URL: http://www.boston.com/business/globe/articles/2007/08/18/mortgage_crisis_may_hur ...truncated...
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=1085

Subscribe to New Links: RSS Feed
Suggest a Link: Reference Suggestion Forum
Back to top
View user's profile Send private message Visit poster's website
admin
Site Admin


Joined: 14 Jul 2005
Posts: 1826
Location: Greater Boston

PostPosted: Mon Aug 20, 2007 5:14 pm GMT    Post subject: Reply with quote

Props to Bubble Meter for pointing out this quote from the article:

Quote:

One of French's clients, who earns about $700,000 a year and has a high credit score, was recently unable to get a stated-income mortgage. These loans became popular during the housing boom because it does not require borrowers to provide a copy of their W-2 tax form to the lender.

Stated-income loans, French said, are "just disappearing."


Why on earth does someone with a $700K income need a mortgage period? And if your income really is an order of magnitude above the norm, wouldn't it just be common sense that any lender is going to want you to show some proof? Seriously, what's the big deal about photocopying your tax returns for the last few years? Maybe this is just a twist on the "big lie" strategy - when you lie, make sure that the lie is so over the top that nobody will think to question you.

- admin
Back to top
View user's profile Send private message Send e-mail Visit poster's website
Display posts from previous:   
Post new topic   Reply to topic    bostonbubble.com Forum Index -> News & Reference Suggestions All times are GMT
Page 1 of 1

 
Jump to:  
You can post new topics in this forum
You can reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Forum posts are owned by the original posters.
Forum boards are Copyright 2005 - present, bostonbubble.com.
Privacy policy in effect.
Powered by phpBB © 2001, 2005 phpBB Group