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: 38,067
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: 38,067
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
Say Hello !!!
Steve
03-19-2007 11:18 AM
Yesterday 01:01 AM
by myrlage
1,256 444,016
A quick Intro
BLE
08-14-2016 05:17 PM
Yesterday 12:53 AM
by myrlage
3 1,281
Any successful one man...
WarriorLandscapingCAN
09-26-2016 06:04 AM
09-28-2016 07:16 AM
by Chilehead
2 153
What were your top...
WarriorLandscapingCAN
09-13-2016 05:10 PM
09-26-2016 05:43 PM
by Steve
4 463
Enter to win Free...
arthur712
09-25-2016 11:28 AM
09-26-2016 05:41 PM
by Steve
1 140
I have a new show!
Chilehead
09-19-2016 06:50 PM
09-23-2016 05:45 AM
by Chilehead
7 227
First commercial estimate
WarriorLandscapingCAN
09-19-2016 12:42 PM
09-22-2016 05:42 PM
by acrajchel
7 241
Larger projects - Labor...
WarriorLandscapingCAN
09-18-2016 07:38 AM
09-21-2016 06:51 AM
by Chilehead
5 253
I need some business...
Firehouselawn@hotmail.com
07-06-2016 05:42 AM
09-16-2016 01:50 PM
by DLC123
5 718
Is it too late?
Cpadgett
05-28-2016 09:10 AM
09-16-2016 01:35 PM
by DLC123
15 1,429
Not a newbie just...
lwlawn
09-09-2016 02:32 PM
09-16-2016 01:25 PM
by DLC123
2 603
I'm making stupid money...
WarriorLandscapingCAN
08-07-2016 07:07 PM
09-16-2016 01:15 PM
by DLC123
6 1,499
Lawn problem
magiccc
09-14-2016 11:37 AM
09-15-2016 06:14 AM
by Chilehead
2 381
What kind of seed do you...
Bradcook21
09-02-2016 02:58 PM
09-12-2016 07:18 AM
by joshp
4 1,019
Commercial Flail Mower...
Chickenthief
09-05-2016 04:46 PM
09-09-2016 04:50 PM
by Steve
7 875
Newbie here
paulgrant
09-07-2016 04:52 PM
09-09-2016 12:01 AM
by paulgrant
2 713
Hello, New Member Here,...
Chickenthief
09-05-2016 06:19 PM
09-08-2016 09:35 PM
by Chickenthief
6 840
Pricing fall cleanups?
WarriorLandscapingCAN
09-06-2016 11:17 AM
09-07-2016 04:06 PM
by Steve
3 810
My Invention
biglee
01-11-2015 06:51 PM
08-31-2016 02:47 PM
by Steve
21 3,373
» Popular Tags
annual apartment become an entrepreneur best mower be your own boss bidding business business education business help business management complex contractor hacks contracts convention converting customer dethatcher edging entrepreneur entrepreneur education estimate estimates fuel problems fuel pump half moon blade intro introduction jjandm lawncare l.t.rich landscape landscape design landscaping landscaping design company landscaping richmond va landscping lawn lawncare lawnservice lowering grade marketing mulch planting raising grade residential lawn care richmond va richmond virginia lawn care seasonal snowblower snow plowing snow shovel sprayer start a business start a lawn care business start business start up toro timecutter townhome tree tree service video web design websites what to charge work from home z-max z-spray
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 02:28 AM.


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

All times are GMT -5. The time now is 02:28 AM.

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