Archive for May, 2007
May 30th, 2007 categories: San Diego Real Estate
When a loan broker who is working on commission focuses on the sale and not the borrower are they predatory? Getting weak buyers approved for stated income/asset adjustable loans with low start rates and a total disregard for whether or not a borrower could repay the loan payments when the rates adjusted, were their actions predatory?
What about the Buyer then. How about all the extra fees that were paid for the extra risk? Who paid all that, the Buyer, the seller? We see the outcome as the rates are adjusting up and defaults are doubling, even tripling every month. These buyers in many cases were set up to fail. Read the rest of this entry »
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