Tag Archives: Subprime Loans
We’ve been hearing a lot about the Libor scandal lately, and as I’m sure most of you know, the LIBOR rate affects many home mortgages. The London Interbank Offered Rate, or LIBOR, is a benchmark interest rate on which a whole lot of loans and financing is based. The scandel, which started in good ole’ London, is a self-reported estimate of how cheaply banks can borrow very-short-term money from other banks. It’s like the honor system. Only guess what — the banks involved were not honest, and the financiers violated honesty in the interests of profits.
How Washington, D.C. and the Banking Industry is Killing the Housing Market, Part II: Dodd Frank Gone Rogue
I I hate Dodd-Frank. It’s a good idea gone rogue. And if you value the ability of qualified people to buy real estate without having to place 20% to 50% as a down payment, you should hate it, too. Dodd-Frank is like nuking an entire apartment complex to get rid of bedbugs in one small 300 square foot unit.