ridedan2

Don't Count on a Fast Turnaround for Thornburg Mortgage

The subprime crisis was simply caused by desperate banks giving loans to desperate people. I at one point 2 years ago was granted a loan by country wide for $85,000, claiming an income of 15gs a year, on top of my current mortgage and payments!!! As well as the underwriter claiming i made 50 a year. It is loans like this which was a arm that caused this crisis. I was lucky to sell the home i bought for a profit before getting in over my head, others were or are not. Tma is a jumbo loan co. giving loans to people who make big bucks, not people making 15 thou a year. I do not know if or when tma will come back but I am at $1.25 placing my bet that it will. As far as bush goes, come on wake up what good has he done for our economy as a whole. Maybe if gas prices and inflation were in check these people could pay there mortgages. On another note why are the feds councered that by lowering rates inflation will go up???????? Last I checked the hike in fuel prices has more to do with inflation then anything. Unless you live in a cave everything you buy is trucked, trained, and Shiped to America, all using fuel which cost more thus the price goes up.