[lbo-talk] wtf mortgages?

Doug Henwood dhenwood at panix.com
Wed Jan 31 15:46:16 PST 2007


On Jan 31, 2007, at 6:31 PM, bitch at pulpculture.org wrote:


> my son was told by his bank that they could get him a loan for a
> house for $245k. he makes $13.50/hr. WTF?
>
> ARe these people completely off their rocker?

Jordan will tell us no.

Deliquency rates for "subprime" mortgages are rising, and several subprime lenders have gone to the wall in recent months. But with the Fed on hold and mortgage rates behaving, the animal spirits are returning...



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