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News Link • Housing

Foreclosures hitting more people with prime loans

• AP
A rising proportion of fixed-rate home loans made to people with good credit are sinking into foreclosure, adding to concerns about the strength of the economic recovery.

1 Comments in Response to

Comment by William Klepzig
Entered on:

On an investment in a home, today the lenders are telling you that the rate is at an all time low,but homes are at an all time high, which means to you that you will repay three times the amount of that loan over thirty years.  One time the loan cost and two times for using that money.

What I am suggesting, and the word is not getting out is simply cutting the interest rate in half.  That means they still make 100% on their money and you would have between two and six hundred in your pocket not going to the banks.  Also I suggest that all home values drop by one third, to closer to real value instead of bank book value.

The real outcome would allow banks to write off the value that is false on all properties thus clearing up their books and putting more of your paycheck in your wallet.



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