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#1
posted to rec.boats
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Bank loans
Help me out here.
I hear the economy is frozen. Banks won't lend. No mortgages. Hoarding their bailout money. Yet, virtually every commercial break on MSNBC or CNN features at least one pitch from a major bank or a mortgage company (Ditech comes to mind, which is a GMAC subsidiary) offering low interests mortgages, loans and "we have money to lend" announcements. So, why aren't they lending? Seems to me that this would be an ideal time for people to re-finance for lower rates, etc. Economics confuses me. Eisboch |
#2
posted to rec.boats
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Bank loans
"Eisboch" wrote in message ... Help me out here. I hear the economy is frozen. Banks won't lend. No mortgages. Hoarding their bailout money. Yet, virtually every commercial break on MSNBC or CNN features at least one pitch from a major bank or a mortgage company (Ditech comes to mind, which is a GMAC subsidiary) offering low interests mortgages, loans and "we have money to lend" announcements. So, why aren't they lending? Seems to me that this would be an ideal time for people to re-finance for lower rates, etc. Economics confuses me. Eisboch Forgot .... also pitches for credit cards. Eisboch |
#3
posted to rec.boats
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Bank loans
"Eisboch" wrote in message ... Forgot .... also pitches for credit cards. Eisboch Get those almost weekly. |
#4
posted to rec.boats
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Bank loans
Eisboch wrote:
Help me out here. I hear the economy is frozen. Banks won't lend. No mortgages. Hoarding their bailout money. Yet, virtually every commercial break on MSNBC or CNN features at least one pitch from a major bank or a mortgage company (Ditech comes to mind, which is a GMAC subsidiary) offering low interests mortgages, loans and "we have money to lend" announcements. So, why aren't they lending? Seems to me that this would be an ideal time for people to re-finance for lower rates, etc. Economics confuses me. Eisboch Mostly unregulated handouts...the banks need to pay their Xmas bonuses first. |
#5
posted to rec.boats
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Bank loans
"Boater" wrote in message ... Eisboch wrote: Help me out here. I hear the economy is frozen. Banks won't lend. No mortgages. Hoarding their bailout money. Yet, virtually every commercial break on MSNBC or CNN features at least one pitch from a major bank or a mortgage company (Ditech comes to mind, which is a GMAC subsidiary) offering low interests mortgages, loans and "we have money to lend" announcements. So, why aren't they lending? Seems to me that this would be an ideal time for people to re-finance for lower rates, etc. Economics confuses me. Eisboch Mostly unregulated handouts...the banks need to pay their Xmas bonuses first. Huh? |
#6
posted to rec.boats
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Bank loans
Eisboch wrote:
"Boater" wrote in message ... Eisboch wrote: Help me out here. I hear the economy is frozen. Banks won't lend. No mortgages. Hoarding their bailout money. Yet, virtually every commercial break on MSNBC or CNN features at least one pitch from a major bank or a mortgage company (Ditech comes to mind, which is a GMAC subsidiary) offering low interests mortgages, loans and "we have money to lend" announcements. So, why aren't they lending? Seems to me that this would be an ideal time for people to re-finance for lower rates, etc. Economics confuses me. Eisboch Mostly unregulated handouts...the banks need to pay their Xmas bonuses first. Huh? The funds the banks and brokerage houses received were mostly without strings, at least at first, and they're not making loans because the funds were used to pay bonuses and buy golden parachutes for the execs. Right? |
#7
posted to rec.boats
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Bank loans
"Boater" wrote in message ... Eisboch wrote: "Boater" wrote in message ... Eisboch wrote: Help me out here. I hear the economy is frozen. Banks won't lend. No mortgages. Hoarding their bailout money. Yet, virtually every commercial break on MSNBC or CNN features at least one pitch from a major bank or a mortgage company (Ditech comes to mind, which is a GMAC subsidiary) offering low interests mortgages, loans and "we have money to lend" announcements. So, why aren't they lending? Seems to me that this would be an ideal time for people to re-finance for lower rates, etc. Economics confuses me. Eisboch Mostly unregulated handouts...the banks need to pay their Xmas bonuses first. Huh? The funds the banks and brokerage houses received were mostly without strings, at least at first, and they're not making loans because the funds were used to pay bonuses and buy golden parachutes for the execs. Right? So all the ads I see on TV inviting morgtage and loan applications are just a front? Eisboch |
#8
posted to rec.boats
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Bank loans
Eisboch wrote:
"Boater" wrote in message ... Eisboch wrote: "Boater" wrote in message ... Eisboch wrote: Help me out here. I hear the economy is frozen. Banks won't lend. No mortgages. Hoarding their bailout money. Yet, virtually every commercial break on MSNBC or CNN features at least one pitch from a major bank or a mortgage company (Ditech comes to mind, which is a GMAC subsidiary) offering low interests mortgages, loans and "we have money to lend" announcements. So, why aren't they lending? Seems to me that this would be an ideal time for people to re-finance for lower rates, etc. Economics confuses me. Eisboch Mostly unregulated handouts...the banks need to pay their Xmas bonuses first. Huh? The funds the banks and brokerage houses received were mostly without strings, at least at first, and they're not making loans because the funds were used to pay bonuses and buy golden parachutes for the execs. Right? So all the ads I see on TV inviting morgtage and loan applications are just a front? Eisboch Just the TV versions of the Nigerian email scams... :) |
#9
posted to rec.boats
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Bank loans
On Fri, 5 Dec 2008 12:01:41 -0500, "Eisboch"
wrote: So all the ads I see on TV inviting morgtage and loan applications are just a front? I think you need high FICO scores to acquire those loans. This country has been running on debt for years. So the mechanism is broken. All the squawking about money not being available is from those already too far in debt. The squeaky wheel is not getting the oil. --Vic |
#10
posted to rec.boats
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Bank loans
Eisboch wrote:
Help me out here. I hear the economy is frozen. Banks won't lend. No mortgages. Hoarding their bailout money. Yet, virtually every commercial break on MSNBC or CNN features at least one pitch from a major bank or a mortgage company (Ditech comes to mind, which is a GMAC subsidiary) offering low interests mortgages, loans and "we have money to lend" announcements. So, why aren't they lending? Seems to me that this would be an ideal time for people to re-finance for lower rates, etc. Economics confuses me. Eisboch Loans are available for anyone with good credit. They are being selective on who they make loans to. The problem we had with Fanny Mae was making loans for more than the home was worth, to people with bad credit, and who were not putting any money down. It was a govt. plan to allow everyone to own a home. The problem is, without a down payment, the homeowner had no more invested in the home than when he was renting an apartment. |
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