http://answers.yahoo.com/question/index;_ylt=AnvGGuhKWeMN5SpXI32Jxavsy6IX;_ylv=3?qid=20070825004749AAxrjet
I’m not an expert, but I still think which I was right one year ago!
At which time if the bank would had stop the NINA, and SISA loans. But went forward with second homes and investments for people with excelent credit, it would had reboot the economy. Those of you who answer which the sky would had fall, and you would had lost a lot of income in your investments… Think… Haven’t you anyway? Reporters think which sub-prime lending was the no income no asset, or settled stated… it was most some-more wide. Even if you had an 800 FICO, as prolonged as you where shopping an investment property, it was deliberate sub-prime. Now which the manage to buy in genuine bad for Realtors, loan officers, building a whole workers, pretension companies, etc, etc. it creates no sense. I think which given the Gov. is putting so most income in the line, they additionally should rewind the FICO, to the measure you had twelve months ago, prior to the warp down. That way, people which where influenced could get behind an buy a brand new car, or get a fridge on credit, etc. Isn’t which what the manage to buy need? (clarification) If you already had bad credit a year ago, you have been partial of the problem!
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right
sory but I can’t read all this description….XD
Yes you are correct, but there is a lot more to what happened than just credit scores. What did the government actually think was going to happen with the cost of fuel climbing and pushing up the cost of everything else.
In our water bill we now pay a fuel service charge to the city so they can pick up the garbage. When you ship an item out via UPS you are also paying a fuel service charge for them to deliver it.
You will always have people out there who have bad credit. Until there is a better system put in place to help out everyone in this country there will be no real fix.