Foreclosure Rates Up - Inappropriate Loans To Blame
Unless you have been living under a rock for the past 18 or so months you have to know that foreclosure rates across the nation have been skyrocketing. Many of the experts are blaming the low interest adjustable rate loans that people took out when the market was red hot. These great teaser loans allowed them to buy homes they normally would not be able to afford. Mortgage brokers that were writing inappropriate loans for home that they had to know people could not continue to afford are also to blame.
Thank goodness we have all learned our lesson and are changing our ways!
Then I saw this press release from First Atlantic Mortgage Services.
Looking to become a home owner? First Atlantic Mortgage Services (www.[URL INTENTIONALLY REMOVED].com) offers two new loan plans to help mortgage applicants buy the house of their dreams -- no matter what the cost.
Nice job - keep throwing new people into the foreclosure pool for the sake of making a buck. There is surely a special place in hell for these people.
Tags: Foreclosure : Mortgage : New Jersey
UPDATE: 4:55 PM 7/19/2007: At least these guys are starting to get it.
