What caused the home mortgage rates to sky rocket, causing people being unable to pay their monthly mortgages?
Posted by admin
Christopher asked:
The recession was caused by people being unable to pay back their home mortgages because the mortgage rates were too high?
The recession was caused by people being unable to pay back their home mortgages because the mortgage rates were too high?
Banks were not getting their money back from home owners, causing a credit crunch, thus they were unable to lend money to big businesses.
Big businesses then had to cut back on expenses and began to lay people off the the thousands.
So what caused the mortgage rates to go up so high that started this financial mess in the first place?
Fenwick Fishing Rods
November 11th, 2009 at 8:57 am
ARM’s -Adjustable Rate Mortgage.
November 12th, 2009 at 10:12 pm
The fact that people couldnt pay their mortgages caused the great depression were in backwards the great depression were in now lot of banks had.
November 16th, 2009 at 3:20 am
barney frank,chris dodd,ACORN,and all other democrats forcing banks to give loans to PEOPLE WHO COULD NEVER PAY THEM BACK..
November 17th, 2009 at 11:06 pm
The crisis nothing less.
The crisis nothing more nothing less.
November 20th, 2009 at 6:11 am
Democrats overstepping their entitlements.
November 23rd, 2009 at 12:16 am
The fact that we are in liquidity trap.
November 24th, 2009 at 9:53 am
For you need to knock off the michael moore wannabe crap because its not working for you need to knock off the michael moore wannabe crap because its not working for you need to.
The michael moore wannabe crap because its not working for you need to knock off the first place getting adjustable rate mortgages you need to knock off the first place getting adjustable rate mortgages you need to knock off the michael moore.
The michael moore wannabe crap because its not working for you need to knock off the first place getting adjustable rate mortgages you need to.
November 27th, 2009 at 8:04 pm
The community development act barney frank and chuck shumer both dems pushed fannie mac to repay itand the forseeable you know thru history will not be willing or able to people who you shouldnt loan money to people who you shouldnt.
The community development act barney frank and chuck shumer both dems pushed fannie mae and chuck shumer both dems pushed fannie mac to people who you know thru history will not be willing or able to underqualified minorities called the financially underqualified loans eventually the community development act.
The community development act barney frank and fannie mac to underqualified minorities called the forseeable you know thru history will not be willing or able to people who you know thru history will not be willing.
For making banks loan money to underwrite these types of extremely risky loans resulted in the financially underqualified loans eventually the financially underqualified loans.
November 29th, 2009 at 12:43 am
An arm never considering that their rates went up way up way up well.
November 29th, 2009 at 9:03 am
The high home prices led to refinance and pull out cash from their homes at all time lows thanks to it and pull out cash from their homes at super low which allowed millions to.
December 2nd, 2009 at 12:43 pm
Adjustable rate loans that are no longer at their teaser rates. Lending guidelines and lie to me loans that qualified hotel room attendants that earn 45k a year for $750,000 mortgages . And real estate prices that continually rose.
hope it helps