As usual your thoughts are superficial The state monopoly currency system created a huge amount of fiat currency and credit and wanted it shoveled somewhere
If people with good credit and documented income are already getting loans the only place for it to go is to people with bad credit, no downpayment and unreported income And so that is what was done On Thu, Mar 26, 2009 at 5:49 PM, madtim3bat <[email protected]>wrote: > <<No income verification NOT no income.>>-vinni_77024_77024 > > No income verification is saying you believe the number the person wrote > down. An honest person will actually have that income, but we all know that > not everyone is honest. > > It is easy to make little lies. Let's say you sell cars, and your best > month your income was $10k. When they ask your monthly income, you write > down $10k. You may have only made $20k the rest of the year, so a more > realistic monthly income would be $2.5k. > > --- In > [email protected]<ThePoliticalSpinroom%40yahoogroups.com>, > vinni_77024_77024 <no_re...@...> wrote: > > > > --- In > > [email protected]<ThePoliticalSpinroom%40yahoogroups.com>, > "Jack" <jackwr@> wrote: > > > > > > On 26 Mar 2009 at 5:16, madtim3bat wrote: > > > > > > > A lot of these people budgeted for the minimum payment. What they > > > > should have done is budget for the maximum payment. If they were > > > > wrong, then they would have some extra money. > > > > > > If brokers and lenders were qualifying borrowers for NINJA loans.. (no > income, no job, no assets) > > > where do you consider those lenders and borrowers should place those > minimum and maximum > > > payment expectations? > > > > There is no such thing as a "NINJA" loan and there never was. No income > verification NOT no income. No assets.....yes. 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