Shocking.
Spending lots of money to refinance people who couldn't afford to make their payments hasn't resulted in them suddenly being able to afford to make their payments.
Who could have ever imagined it?
http://www.sigtarp.gov/Quarterly%20Reports/July_24_2013_Report_to_Congress.pdf
The link doesn't work, but it's probably broke too. 
No great surprise.
Got to love this, I had every orifice explored to get my 10% front end ratio loan approved and they were just handing cash out.
Don't get me (us?) started! 
Weird. If you copy the web link text, and then paste it in, it will then go to it.
just remove the "25" from the %20 in the url after you click the link
http://reason.com/blog/2013/07/24/nearly-one-quarter-of-federal-foreclosur
Try this link
wearymicrobe wrote: Got to love this, I had every orifice explored to get my 10% front end ratio loan approved and they were just handing cash out.
Dont even get me started on the bullE36 M3 we went through to get our refi done just recently. refinanced $156k on a house appraised at $210k with a combined credit score above 800 and you'd thought we were derelict piles of E36 M3 that were unemployed. We just wanted the new percentage rate.
Yeah, Bob, well... they (the banking industry) didn't want to give you the new percentage rate.
Bobzilla wrote:wearymicrobe wrote: Got to love this, I had every orifice explored to get my 10% front end ratio loan approved and they were just handing cash out.Dont even get me started on the bullE36 M3 we went through to get our refi done just recently. refinanced $156k on a house appraised at $210k with a combined credit score above 800 and you'd thought we were derelict piles of E36 M3 that were unemployed. We just wanted the new percentage rate.
Wow man. You should've used a different lender. Suntrust did ours crazy fast with no BS. 2.875% for 15 years.
combined credit score above 800
Wait...does that mean 400 and 400? That might be your problem.
Well, what do you expect? people don't have Jobs... and many that do, are severely underpaid, so they can barely pay the school loans, that they CAN'T default on, and THEN their houses are worth less than they owe.. so they are like, "screw it".
SCARR wrote: Well, what do you expect? people don't have Jobs... and many that do, are severely underpaid, so they can barely pay the school loans, that they CAN'T default on, and THEN their houses are worth less than they owe.. so they are like, "screw it".
Exactly. Which is why people like me didn't want our money thrown down that pit in the first place.
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