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Posts Tagged ‘Subprime’

Consumer Debt Update and real estate! It’s looking scary.

No good news in consumer debt

consumer debtWe are going to take some time to look at the most up to date information on what is going on with consumer debt. As I have mentioned quite a few times before, the overall debt profile of the public has got me worried. While I continue to hope for improvements, consumer debt continues to move in the wrong direction. Sadly, it is a direction that is likely to take us to some very familiar and unpleasant places.

Todays Links:

  • http://www.calculatedriskblog.com/2017/08/ny-fed-household-borrowing-grows.html
  • http://www.marketwatch.com/story/millennials-are-financing-everything-from-bed-sheets-to-concert-tickets-2017-08-14
  • http://www.zerohedge.com/news/2017-08-16/carmageddon-deep-subprime-auto-delinquencies-spike-10-year-highs
  • https://www.housingwire.com/articles/41048-mr-cooper-launching-mortgage-linked-credit-card

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Is your FICO Score about to go up?

FICO score changes to benefit 12 million sub-prime borrowers.

fico scoreYeah, you read that right. Now remember, whenever they talk about appealing to more lenders or improving credit scores, they are NOT talking about folks who already have a good credit score. By definition they are giving an artificial boost to borrowers that just a few months ago would not have qualified for a loan base don their FICO score. This is occurring with NO change to their financial knowledge, credit history, income or ability to manage their money. It is just about tweaking numbers to make things appear better without any change to what the number is supposed to measure.

Sorry, more nightmare fuel for todays show. We will also talk about these:

Subprime lending – back stronger than ever!

More credit score shenanigans pushes subprime lending to new heights! I still can’t believe what we will talk about in todays show is actually happening. It is, for lack of a better word, completely nuts. Subprime lending is now back – at levels that even appear to dwarf the idiotic lending that …

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Interested in getting free content, advanced notice of upcoming events and real estate exclusives? Then simply join the Rebel Underground by texting the word ‘rebelbroker’ to 44222 – or click the button below. When prompted, text your email address and you are in!

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Subprime Lending in 2016

Responding to a listeners email

subprime lendingI recently had an email exchange with a listener relating to current lending and credit practices. As it turns out, we really don’t agree on much. So, lets share the listeners email, my response and then get into some details on why we are pretty much 180 degrees away from each other on this issue. What it all really boils down turn is that subprime lending is back, ready to cause the same issues it did last time.

We are basically creating the same toxic lending environment that cost us so dearly last time – but this time built around a much weaker economy. Whether you are a buyer, seller, investor or real estate entrepreneur, this is one you won’t want to miss.

Please help the show by filling out the audience demographic survey by clicking the button at the top of the page titled “Take the survey to support the show”. Follow the prompts and this will automatically enter you for a chance to win a $50 Amazon Gift card!

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Blast From A Past Show On This Subject!

More Subprime Style Shenanigans

PLUS:  Eminent Domain Our big topic for today spans a few stories. Subprime lending style strategies are back and they are scary. While there are protections now that were missing before, these are the kinds of things that evolve as institutions get comfortable with them. In short, setting a bad precedent. …

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Tidal wave of buyers ahead?

PLUS: Baby Boomers Are Doing This Differently

Screen Shot 2016-07-24 at 8.15.16 PMWe have talked before about how millennials have changed their habits in the world of real estate. Well, baby boomers are doing it too. Lets take some time to look into what has changed in terms of what baby boomers are up to in real estate.

We will also talk about a predicted boom in buyers in 2018. The last thing we need is a surge in buyers and it is starting to look like we will see their numbers increasing right up until this predicted surge in 2018.

We will also offer a possible solution to win against all cash offers.

Also, the show is now available on iHeartRadio! If you you are a fan of iHeart – make sure to check it out! Just do a search on “real estate realities” and the show should come right up!

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#babyboomers #buyersurge #realestate #subprime #fairlending #daysonmarket #allcash

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Race and Lending

You are either going to love me or hate me after this one

I came across a “study” recently relating to lending to minority communities. This subject annoys the hell out of me since the vast majority of the time, what is being sold as solid data is a ridiculous manipulation of opinion by making assumptions that do not at all line up with the data collected.

This study is just one such example. As a matter of policy, it is important to understand that lenders are among the most regulated folks on the planet. Anyone engaging in lending that was biased against any race (and only on their race) would be found out relatively quickly and those folks would go to jail.

So what do we do with studies like the one we are covering today that clearly claim that some folks are not getting loans only because of their skin color? Well, we pay attention and we think our way through it. That is what we are doing today.

Also, the show is now available on iHeartRadio! If you you are a fan of iHeart – make sure to check it out! Just do a search on “real estate realities” and the show should come right up!

Please help the show by filling out the audience demographic survey.

#lending #racism #realestate #bias #fairlending #communityreinvestment #subprime #mortgage

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