The housing market has crashed.
The mortgage banking industry has had a particularly bad time of it lately, with all sorts of banks going under and the market tanking. Of course, this has led to a host of companies and individuals attempting to spin the financial crisis as the fault of Wall Street. In this case, it’s not so much the financial sector as the mortgage industry.
I’m not going to repeat myself, but I will say that this is a very good example of the way some people are trying to blame the housing market on the mortgage industry. Sure, these companies and individuals aren’t to blame for the crash, but they are to blame for the way they’re trying to spin the crisis as their fault.
The most recent example of this is when Freddie Mac and Fannie Mae were caught red handed trying to manipulate the value of home loans. It’s not the fault of them that the financial sector wasnt as solvent as it was. It’s the fault of people who didnt realize that the housing market wasnt like a casino, where it was possible to hide losses by playing the other guys’ money.
In short, the mortgage banking industry, which is the largest mortgage provider in the US, is an illusion. Because the system was designed in such a way that one bad move by a small group of people can cause the whole system to collapse, the mortgage industry was never designed to handle the amount of risk that it is now. No one is really to blame for this, and the most they can do is try to blame the people who made the system susceptible to such behavior.
The more I think about the mortgage industry, the more I believe that mortgages were designed to take out big amounts of risk. And in a way, this is just a reflection of what the mortgage industry was originally. But even if you don’t believe this, the mortgage industry is a big part of the reason why we have a housing problem.
This is a problem that has been with us for many years. It started when we bought our house and had the loan. We thought it was a great deal, and would be a great investment if we were going to pay it off in a few years. We were wrong. What started as a great deal (and a great investment) quickly turned into a nightmare over the next year.
Now, that sounds like a pretty awful thing to say. But the mortgage industry is a bit like a giant bank that charges the homeowner hundreds of thousands of dollars in fees and charges a fraction of that as a fee to make a loan. But when you are the debtor, the mortgage firms charge whatever they want to charge.
This is the thing that’s been bothering me the most. When I first started out buying my first home, I bought it with the intention of paying it off in less than a year. In the end, I was lucky to get a mortgage that would provide me with enough disposable income to close on my new home within the first few months of ownership.
This is one of those things that most people don’t realize is a huge red flag. When you have a mortgage, it’s a long-term commitment. This means that the homeowner has a very long time to repay the loan. For the homeowner, the mortgage company is the lender, the company that has the power to demand money from the borrower (“repay the loan”) in case the loan goes bad.