UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Next Thread
Author: tjscott0 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 736605  
Subject: Is the Mortgage Business Ready fer the Free Mkt? Date: 12/5/2012 2:13 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
http://www.marketwatch.com/story/wal-mart-mortgages-could-fu...

f you insist on getting a mortgage from a big-box retailer, you have to go to Costco COST +0.49% , which began offering them last April in a partnership with a New Jersey community bank, First Choice Bank.

Nevertheless, one out of three people would consider taking out a mortgage at Wal-Mart, according to a survey released Monday by Carlisle & Gallagher Consulting Group.

Houtop said the kinds of mortgages retail lenders would make would be simple and straight-forward, not the exotic varieties of stated-income loans and sneaky balloon notes that the banking industry continues cleaning up to this day.

Still, if the financial crisis taught us anything, it should be that shopping for a new home-equity line should not be as easy as driving to Wal-Mart.

Consumers still don’t get enough blame for the housing crisis that nearly brought America’s economy to its knees.

Brokers, lenders, Wall Street bankers, politicians, Fannie and Freddie — they rightly receive their share. And to be sure, what really tanked the market, was the trillions in troubled mortgage-backed securities and derivatives — not so much the billions in defaults from homeowners. But in the end, it is one long chain of fools that began with a home-buying public that now wants to shop for mortgages at Wal-Mart.


I doubt if this will come to pass as TBTF banks will engage their lobbyists to stop such competition.

But if it did; I would contemplate selling my house & land & put the proceeds into gold & wait fer the bubble to burst. Then come back & buy up alot of land. The problem as always is timing.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post Back To Top
Author: tgrmn Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 658419 of 736605
Subject: Re: Is the Mortgage Business Ready fer the Free Date: 12/5/2012 2:19 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Some number of folks with means are buying up rural farm/ranch acreages.

Ag is most likely THE Number 1 Federal Governmint supported business.

Print the post Back To Top
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Next Thread
Advertisement