The Truth Behind the Mortgage Crisis

You don’t have to be a genius to know that a lot of people are struggling with their house payments in our current economy.
It doesn't have to be like this!
A big part of the problem was due to the fact that lenders placed their own interests ahead of their customers. Unfortunately well intentioned people who did not understand all of the details of the loans were placed into risky programs with:

• unsuspected interest rate adjustments
• payments that were higher than affordable
• undisclosed balloon payments
• loans which resulted in rising mortgage balances
• loans which now exceed the value of the home

The economic crisis and the lender activities mentioned have resulted in a lot of homeowners who are struggling with their payments, behind in payments, watching their home values falling below what the owe on their mortgages, and seeing their payments go much higher than they ever anticipated. Many people were talked into taking a loan that has increased over what they initially borrowed. As a result of these lender activities -

 
WE ARE SEEING AN UNPRECEDENTED

TSUNAMI OF DEFAULTS AND FORECLOSURES

This means that lenders are ending up after foreclosure with a lot of real estate that they don’t really want to own. No matter what you have heard NO lender wants to own your house. They would rather receive their money, or least a portion of it.

ADDITIONALLY, THESE LENDERS ARE WELL AWARE OF THE
QUESTIONABLE AND PREDATORY LENDING PRACTICES
THAT HAVE OCCURRED ACROSS THE NATION