Posted by BarbaraL_CA on 9/12/07 8:03pm
Msg #210656

Implode-meter - keeping track of imploded mortgage companies

The following link was referenced on our TV news this evening.

There is a lot of interesting information, and you can see what mortgage companies have imploded.

http://ml-implode.com/

Reply by Happy_in_Fl on 9/12/07 11:46pm
Msg #210690

Very interesting information.

I especially like the latter part, the list that is being generated of companies alive and well.

When you consider the HUGE number of Mortgage Lenders etc. in America, the number crashing is very small, and again seems to be those who were mainly selling sub-prime deals for outrages fees and interest rates.

Borrowers who picked up these Adjustable Rate Mortgages cannot afford their increase mortgage payment, go bottoms up, and it's a big domino effect.

Appreciate your sharing.

Reply by CJ on 9/13/07 10:50am
Msg #210735

I bookmarked it for the future. Thanks n/m