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Professional Independent Mortgage Advice [mortgage-investment.blogspot.com]

Professional Independent Mortgage Advice [mortgage-investment.blogspot.com]

Question by James L: What deregulation caused the housing bubble and financial crisis? Everyday, the newspapers blame deregulation and laissez faire public policy, yet they never specify what deregulation actually caused the crisis. What regulation was repealed and what regulation is needed? Do they want regulation of independent mortgage lenders? What do they propose? Please don't turn this discussion into capitalism vs. socialism or something like that. I simply want specifics. It is all very complicate so you don't have to explain everything to me, but just point me in the right direction and I'll do the research myself. Best answer for What deregulation caused the housing bubble and financial crisis?:

Answer by 60187guy
1) Less-creditworthy people who weren't able to borrow money for mortgage loans during the 1990's were made able to borrow during this decade. This is the origin of the "sub-prime" problem. 2) Financial institutions were able to engage in more aggressive and leveraged types of speculative trading because of diminished regulatory oversight which brought about some of the meltdown in the stock market.

Answer by lorax101
Hmm... there's a lot of deregulation in there (coming from a college student who just came out of a regulations in economics course). A lot of it has to do with economic thought in the last couple decades (Chicago School of Economics http://en.wikipedia.org/wiki/Chicago_school_of_economics ) Legislators in general have relied on economists who have pointed out that the self-interest of each firm in an industry will lead to a stable market, and all governments can do is get in their way. So after heavy regulation in the 60's and 70's, legislators have been taking a lot of regs off the books - to point you in some specific directions of research: http://en.wikipedia.org/wiki/Panic_of_1907 http://en.wikipedia.org/wiki/Antitrust http://en.wikipedia.org/wiki/Law_and_economics I've got some more research that you might want to do, but it's a little more economist scholar oriented. Send me an email if you'd like to scan through it anyways. Newspapers blaming the current crisis on "deregulation and laissez faire public policy" without specifications is just the easy thing to do - they're the best buzzwords of the season.

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Lenders have also been tightening their borrowing criteria in recent months and raising their rates for new borrowers and more than a million existing ones, blaming the weak economy and the increased cost of funding a mortgage. The Bank of England ... Mortgage approvals hit 15-year low

Shopping around for the best deal on mortgages can often be confusing and a bit daunting. This is true whether you're a first time buyer or someone wanting to relocate or get yourself a bigger house. Getting some advice to help you along the way can be really good idea before you commit yourself to anything, particularly if you're not familiar with the different mortgages available or which one to go for. Talking to an independent mortgage or financial advisor is a good idea.

Perhaps one of the main benefits of going for an independent financial or mortgage advisor is the fact that they're independent. This means they won't be trying to sell you products from any particular bank or lending company as they receive the same finder's fees from all mortgage companies. You'll also have the peace of mind in that they'll listen to your circumstances impartially and will be able to advise you on your best options without bias, so you don't have to worry about being forced into anything.

Another great benefit of using an independent mortgage advisor is the fact they know so much about mortgages.

They have to be knowledgeable for their job, and so they're ideally placed to explain all the technical jargon to you that often puts people off. They'll also be able to explain to you about fixed rate and flexible mortgages, as well as issues such as early payment premiums. This will help you understand what's on offer from different lenders so you can make an informed decision.

Once you understand the different products on offer, you also need to know the process of how to go about obtaining one of them. Here, your independent mortgage advisor will be able to guide you through the process of applying for a mortgage and will help you compile all the information you need.

They'll also be on hand to answer any queries you have in an impartial manner, which can be ideal if you're feeling a little blindsided by your lender of choice.

Lastly, having an independent financial or mortgage advisor on board can sometimes help to speed up the whole application process as you'll have the benefit of being able to utilize their skill and experience to help you along. Getting them to help you means that you're more likely to make a good application and they'll also be able to keep an eye on the process as it progresses, so you won't have to spend so much time stressing about the mortgage and can focus on your new house instead.

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1 komentar:

And I think going for independent mortgage advice also allows you to have lots of information at once put in front of you so you can see all your options.

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