0
Who exactly was at fault for letting the banks lend money that was 5-10 times the amount that people could afford that lead to the housing market collapse?
Wiki User
∙ 11y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What do you do when you can no longer afford your home?
The usual strategy when you can no longer afford your home is to seek less expensive housing. An alternative strategy would be to rent part of your home out to someone else, in order to increase your income so that you will be able to afford your home. Maybe your home can be more intensively utilized.
Where can mortgages be compared to identify the best rates?
You can compare mortgage rates online at the Bankrate website. They also provide a calculator specifically to help those looking to find exactly the mortgage that they can afford.
What should you do if you are the primary on your car loan but the cosigner has been paying and you cannot afford the payments any longer?
Sign off your interest in the vehicle to the primary, letting him/her have the right to sell or drive the vehicle. Either way, the primary needs to have control of the property that he/she is paying for.
Who is responsible for Fannie Mae's collapse?
Barnie Frank and Chuck Schomer pushed Fannie Mae to provided sub-prime rate loans to those who could not afford them. Republicans were politically snow-balled when they weakly protested by charges of racism. The housing prices dropped and many walked away from their morgtages (which have been sold off in bulk to other investment firms). See http://www.youtube.com/watch?v=_MGT_cSi7Rs&feature=related http://www.peanut.org/nuke/modules.php?name=Forums&file=viewtopic&t=1942&start=0&postdays=0&postorder=asc&highlight= http://sayanythingblog.com/readers/entry/obama_acorn_and_fannie_mae/
You are financing a vehicle but you can no longer afford payments what can you do?
Talk to the lender, or you can file Chapter 13 Bankruptcy to lower the payments where you can afford them.
What caused the financial collapse in the United States?
The financial collapse in the United States is subject to opinion. However, popular belief is that it began with the housing downturn and then banks began giving out money to people who couldn't afford to repay the loans.
Which of the following assists low-income, elderly, and disabled persons to afford modest housing of their choosing?
Housing Choice Voucher Program
What was the role of the fha in helping individual families afford housing?
Guarnatee loan
When determining housing cost's it is important to choose a rental unit one can?
Afford
Why are so many people in the UK homeless?
The UK is economically depressed, which has two consequences for homelessness. There are more people who cannot afford to pay for their own housing, and there is also less tax revenue with which to pay for public housing programs to help people who are otherwise unable to afford housing.
Causes of housing problems?
the ROOT cause of housing problem is the OVERPOPULATION..why? because house is in the physiological needs of man and due to this the demands of house is raising and if they cannot afford to put up or there is no vacancy of location though you can afford to buy and established...
Why is it that there is a housing problem?
Housing problems occur when the government gets involved and forces lending practices that allow people to purchase homes they cannot afford.
Why was there so much poor housing in the towns and cities in the 19th century?
because they couldnt afford it
Why do we have low income housing?
This is for persons who are receiving low income and can not afford anything more expensive.
Where can I research senior citizen housing options in Miami?
My elderly mother can no longer afford her rent. Where can I research senior citizen housing options for her in the Miami area?
Tips on Finding Affordable Housing?
Getting affordable housing is one of the best ways to know that you will be living in a home or apartment that you can afford. The best way to find this type of housing is to simply look around and to compare different monthly prices for apartments in your area. If you are having difficulties finding a home you can afford, you might want to visit your local welfare office.
When was Section 8 housing authority created?
The section 8 program was created just after the Great Depression, to ensure that housing would be available for people who could not otherwise afford it.
