Atlanta Quote Blog: Mortgage
The challenge of a Mortgage Today
It is amazing but rates for mortgages have been dropping and it is harder for the average person to get a loan. Why is this...
Banks have been stung pretty hard by loose standards. What happens when someone gets stung, they swing back the other way. Think about it for a second. Between 2002 and 2007 it was super easy to get a mortgage. If you could breath you were pretty much guaranteed to get financing. So, when 2007 hit all the mortgage lenders pulled back. What did they pull back to? The standards they should of had the whole time. Now if you want a loan there are requirements. Are these oppressive? Nope! Are they bad for the consumer? Nope! Do they help us work our way through this crisis? Yep!
Are the new loan standards oppressive. Absolutely not. The banks have done what they should of done the whole time; required someone who wants money to prove a very simple fact. During hard economic times, and even easy times, the person they gave their money to can pay it back. If I owned one of the bank stocks I would expect that bank to do a little due diligence on who they loan the money to and how it can get repaid. Anyone who looks at this any differently, for the most part, is someone who is looking for easy money. Sorry, that is so 2005!!
Posted on May 18, 2009
How Much Auto Coverage Do You Need?
ONE TRIED AND true way to reduce your auto insurance premium is to hike the deductible on your collision coverage and skimp on your liability coverage. Sometimes this can make sense, but often it's not worth the extra risk. In this section we'll explain several of the coverages you're likely to be offered as you shop for insurance (some are mandatory). Then we'll help you figure out how much to carry of each type.
Posted on June 4, 2008
