Lawn Care Business Forum Lawn Care Business Book Lawn Care Business Blog Lawn Care Software
Home Forum Contract & Flyer Templates Blog Software Videos Podcast Calculators / Estimators Store Mower Review Design It Yourself Lawn Business School

Go Back   GopherHaul Landscaping & Lawn Care Business Marketing Forum > Business > General Business Discussions

General Business Discussions A place to talk about general business discussions.

Will new Federal rules help save our economy?


General Business Discussions

A place to talk about general business discussions.
Reply
 
Thread Tools Search this Thread
  #1  
Old 12-18-2007, 11:00 AM
Steve's Avatar
Steve Steve is offline
Administrator
 
Join Date: May 2003
Posts: 37,927
Rep Power: 10
Steve has disabled reputation
Default

What a scam these home loans have become in the past couple of years or so. It's just amazing that the loans were offered when those mortgage brokers knew the people they were selling the mortgages too would have no way to afford the loan after the initial teaser interest rate period was over.

It's too bad so much damage has been done by this but I am glad to see more stricter rules in place to keep this from happening again, I hope!

What's your view on all this?

Fed to tighten up lending rules - The Federal Reserve on Tuesday will propose a much stricter set of rules for mortgage lenders as part of the central bank's effort to avert abusive lending.

1. Prohibit giving people unaffordable loans. One reason for the spike in foreclosures among those with subprime adjustable-rate mortgages (ARMs) was that lenders measured borrowers' ability to repay the loan based on the low introductory loan rate, but not on the higher rate that the loan would reset to. The Fed may propose that lenders base affordability on a borrowers' ability to repay a loan at the reset rate.
__________________
- Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
Download your Free trial of Gopher Lawn Care Software.
Reply With Quote

Stop guess-timating. Learn how to estimate and make money! $$$
Mow Time Estimator Lawn Care Price Estimator Mulch and Topsoil Calculator Snow Plow Estimate Calculator


  #2  
Old 12-18-2007, 07:34 PM
realhuntin
Guest
 
Posts: n/a
Default

Lawn care business tipsLawn Care Business Book
Interisting but on the other hand you as a home owner can buy and sell your own mortage so I always hate to see people losing something they worked so hard for. But they had to know it would at some point float so before that time came they should have started looking for a new mortage. It all falls down to being resposable home owner and whating your investments this includes most of all your home.

I may sound shrude about it but it is a hard knock. Maybe theres more to the details of all the foreclosures than I know but this is just how I looked at it.
Reply With Quote
  #3  
Old 12-19-2007, 02:22 AM
Steve's Avatar
Steve Steve is offline
Administrator
 
Join Date: May 2003
Posts: 37,927
Rep Power: 10
Steve has disabled reputation
Default

I think one of the problems I have seen is that many people do not read what they are signing before they sign it.

I have seen people repeat the same mistake over and over again when it came to car loans. Then when a broker tells them they can afford a house that is too much for them, they sign on the dotted line without caring too much about the reseting of their loan fees!

I am not a big fan of government regulation because they tend to go overboard but there is a need, I feel, to help protect consumers. Otherwise, a lot of smart people out there will word contracts and sell products which will take advantage of others. That's never a good thing.

Have you noticed a big change in the real estate business in your area?
__________________
- Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
Download your Free trial of Gopher Lawn Care Software.
Reply With Quote
Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump

» Recent Threads
  RatingTitle, Username, & Date Last Post Replies Views
Did this job free to...
JJand M Lawncare
05-02-2016 02:33 PM
Today 01:02 PM
by JJand M Lawncare
3 61
Correct way to quote a...
WarriorLandscapingCAN
05-02-2016 11:52 AM
Yesterday 10:59 AM
by Steve
1 48
How to tell Cust. to...
GeeGood
04-09-2008 09:55 PM
05-02-2016 02:45 PM
by JJand M Lawncare
13 5,220
Having an issue with...
Mr. Mow
04-27-2016 03:58 PM
04-28-2016 05:04 AM
by Sprinkler Buddy
2 125
Hello From Virginia
JJand M Lawncare
04-25-2016 01:02 PM
04-27-2016 05:20 PM
by Steve
5 155
knowledge is Key
Greg'slawnandlandscape
04-23-2016 02:23 AM
04-25-2016 02:40 PM
by Steve
2 141
Hello from Calgary
Freshcut
04-22-2016 06:10 PM
04-25-2016 02:38 PM
by Steve
1 129
Echo Bed Redefiner...
NPM_LLC
04-12-2016 10:54 AM
04-22-2016 06:15 PM
by Freshcut
4 330
Has anyone done a garden?
Brian3137
03-28-2016 10:42 AM
04-22-2016 04:42 PM
by biglee
13 9,778
What would you charge?
markty
04-18-2016 03:28 PM
04-22-2016 09:01 AM
by chris2500hd
6 315
Replaced Mower Engine
Sprinkler Buddy
04-15-2016 06:21 AM
04-19-2016 11:03 AM
by Sprinkler Buddy
6 271
Hello from Oklahoma
Ron Hall
03-24-2016 06:59 PM
04-16-2016 03:51 AM
by Ron Hall
9 9,481
Laying down some stripes
MATTNAPIER89
04-11-2016 09:55 PM
04-14-2016 11:55 PM
by Steve
3 356
Find out what business...
MATTNAPIER89
04-11-2016 09:58 PM
04-13-2016 12:32 PM
by MATTNAPIER89
2 301
Hello my name is Matt
MATTNAPIER89
04-11-2016 09:46 PM
04-13-2016 12:58 AM
by Steve
1 252
How to drop some...
nickeckes
04-11-2016 01:07 AM
04-12-2016 05:22 PM
by Steve
4 326
Trash Receptacle for a...
tannerduncan
04-12-2016 05:02 PM
04-12-2016 05:19 PM
by Steve
1 232
Small Project Lawn
tannerduncan
03-31-2016 08:21 PM
04-12-2016 05:16 PM
by Steve
7 9,359
Please Help! Bidding...
Dorali
02-15-2016 12:02 PM
04-06-2016 01:08 AM
by Steve
36 13,094
Hello
pbcleff
04-05-2016 07:45 PM
04-06-2016 12:35 AM
by Steve
1 425
Hello
llewelwa
03-18-2016 12:47 AM
04-05-2016 12:14 AM
by Steve
3 9,353
Poop and Scooping
llewelwa
04-01-2016 05:48 PM
04-05-2016 12:08 AM
by Steve
1 9,133
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 11:03 PM.


(C) 2011 Riggs Publications - Terms of use & Privacy Policy

All times are GMT -5. The time now is 11:03 PM.

(C) 2011 Riggs Publications - Terms of use & Privacy Policy