Showing posts with label loans. Show all posts
Showing posts with label loans. Show all posts
Thursday, May 31, 2007
Puede el banco comprar seguro de casa contra mi voluntad?
Si tienes una hipoteca sobre tu casa, tienes que tener seguro contra incendios (hazard/fire insurance) por requisito de banco. Si no tienes hipoteca (la casa es 100% tuya) aun es muy recomendable que tengas segura por si se quema, etc. Si no tienes seguro el banco te manda un carta enqual te dice que si no obtienes seguro ellos van a obtener el seguro y tu lo tiendes que pagar.Si tienes seguro tienes que mandales copia de la "policy" como prueba.
Friday, March 02, 2007
WOMEN MORE LIKELY THAN MEN TO RECEIVE SUBPRIME HOME MORTGAGES
For more info see : http://www.consumerfed.org/pdfs/WomenPrimeTargetsPressRelease.pdf
WOMEN MORE LIKELY THAN MEN TO RECEIVE SUBPRIME HOME MORTGAGES
Women represent nearly 40 percent of subprime borrowers, making it more difficult for women-led households to build wealth through homeownership, according to a recent study by the Consumer Federation of America (CFA). Last year, 32 percent of women borrowers received mortgages with interest rates exceeding the average prime mortgage rate of 5.87 percent compared with 24.2 percent of men. The study, which examined 4.4 million mortgage originations throughout the country where borrowers were identified by their gender, also found that more than one in 10 women received high-cost subprime loans with interest rates above 9.66 percent.
The disparity between the rate of subprime lending for men and women grows as income levels increase, according to the study. Women earning double the median income are 46.4 percent more likely to obtain a subprime mortgage than men with similar incomes. "Evidence suggests that women have slightly higher credit scores on average than men and similar credit usage patterns, yet the fact that women are more likely to receive more expensive mortgages at all income levels undercuts the lending industries calm assurances that borrowers are priced based on their creditworthiness," said Allen Fishbein, CFA's director of housing and credit policy.
WOMEN MORE LIKELY THAN MEN TO RECEIVE SUBPRIME HOME MORTGAGES
Women represent nearly 40 percent of subprime borrowers, making it more difficult for women-led households to build wealth through homeownership, according to a recent study by the Consumer Federation of America (CFA). Last year, 32 percent of women borrowers received mortgages with interest rates exceeding the average prime mortgage rate of 5.87 percent compared with 24.2 percent of men. The study, which examined 4.4 million mortgage originations throughout the country where borrowers were identified by their gender, also found that more than one in 10 women received high-cost subprime loans with interest rates above 9.66 percent.
The disparity between the rate of subprime lending for men and women grows as income levels increase, according to the study. Women earning double the median income are 46.4 percent more likely to obtain a subprime mortgage than men with similar incomes. "Evidence suggests that women have slightly higher credit scores on average than men and similar credit usage patterns, yet the fact that women are more likely to receive more expensive mortgages at all income levels undercuts the lending industries calm assurances that borrowers are priced based on their creditworthiness," said Allen Fishbein, CFA's director of housing and credit policy.
Tuesday, February 13, 2007
The Hypocrisy of Money & Immigration
WE WANT YOUR MONEY BUT GET OUT OF OUR COUNTRY:
I am in San Francisco, and the last few weeks there has been a lot talk about ICE(immigration police) rounding up undocumented people in the surrounding cities: Redwood City, Pittsburg, San Pablo, Richmond, San Francisco.
ICE it is only those who have deportation or criminal records, but the fact is there a families, children, long time residents (nondocumented) who being deported and whose families are being destroy.
The Church is silent and so are the financial institutions: Banks, Mortgage companies, etc.
And here is the hypocrisy of Money!
As a loan agent I see all the advertisement by Banks, Car Dealerships targeting the illegal person: Credit cards, mortgage loans, loans of any type with a Tax Payer Id (ie. No Social Security Number).
So the message is clear: Get out of our country if you are illegal, but we want your money. Open up bank accounts, credit cards, get home loans, refinance.
Since persception is reality, and since we are babies of the media/advertise age, these financial institution should do more to bring public awareness of how valuable this target group is for them and for all of us.
I am in San Francisco, and the last few weeks there has been a lot talk about ICE(immigration police) rounding up undocumented people in the surrounding cities: Redwood City, Pittsburg, San Pablo, Richmond, San Francisco.
ICE it is only those who have deportation or criminal records, but the fact is there a families, children, long time residents (nondocumented) who being deported and whose families are being destroy.
The Church is silent and so are the financial institutions: Banks, Mortgage companies, etc.
And here is the hypocrisy of Money!
As a loan agent I see all the advertisement by Banks, Car Dealerships targeting the illegal person: Credit cards, mortgage loans, loans of any type with a Tax Payer Id (ie. No Social Security Number).
So the message is clear: Get out of our country if you are illegal, but we want your money. Open up bank accounts, credit cards, get home loans, refinance.
Since persception is reality, and since we are babies of the media/advertise age, these financial institution should do more to bring public awareness of how valuable this target group is for them and for all of us.
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