Comments on: Math of Subprime Mortgage Default

By: sub-primer in california

sub-primer in california — Wed, 30 Sep 2009 17:25:35 +0000

PMI or mortgage insurance is only necessary for loans above 80% of the price. These loans were all constructed to be 80/20 meaning 80% was the first mortgage and 20% was the second. So PMI wasn’t required on these loans.

By: Is Cash-for-Clunkers good or bad? - Page 17 - Political Forum

Is Cash-for-Clunkers good or bad? - Page 17 - Political Forum — Sun, 16 Aug 2009 03:16:39 +0000

[...] Here, I’ll help you get started. http://seekingalpha.com/articl.....advertised http://whiskeyandgunpowder.com.....e-default/ http://mjperry.blogspot.com/20.....stats.html "Subprime" was a nice sound bite, [...]

By: Gary

Gary — Thu, 26 Mar 2009 07:26:42 +0000

NAFTA, CAFTA, GATT sent our good jobs away. That’s why people can’t pay. But, you are right. We have been getting only lies.

By: Mike in Charlotte

Mike in Charlotte — Tue, 24 Mar 2009 21:12:28 +0000

If your calculations are in the ball park, then why can’t PMI pay for the mortgage? I thought the point of PMI was insurance in the face of delinquency/default? Why is no one forcing PMI to pay up? Is this a scam that untold billions have paid for and someone walked with this money?

By: Speaking of Moonbats

Speaking of Moonbats — Tue, 24 Mar 2009 19:24:31 +0000

I can’t comment on your math. I suspect the answer lies between you math been off and this whole “financial criss” being a complete scam.

Regardless of what the numbers are, here’s what I’d like to know :

- Why aren’t the people who lied on their loans, took on more dent than they could afford, and didn’t pay their debts being blamed?

Fact is, if everyone paid the debts they’d taken on then this supposedly wouldn’t be happening. Sure some people fall on hard times and go broke, but that’s not what’s going on and even then people are being allowed to walk way free and sticking banks/shareholders/taxpayers/investors with the cost.

I’m for blaming the welshers. Then again I’ve made a killing all the way down so I can’t complain, but I’d apprecite putting that money to work in free-market ways which the government is now ruining so I’d like to balme put where it belongs and so too the government spending … put the welshers in jail or to work cleaning up beaches or something.

By: Math of Subprime Mortgage Default

Math of Subprime Mortgage Default — Tue, 24 Mar 2009 17:36:30 +0000

[...] Random Feed wrote an interesting post today onHere’s a quick excerptThis article tentatively accepts the proposition that the default of sub prime mortgages and the subsequent decline of housing prices have been the cause of critical problems in the banking system and collapse of credit markets world wide. Letís do some housing math. Last fall there were about one million delinquent mortgages. Let us presume the current figure is now fifty percent worse ñ i.e. one point five million homes. Assume that the average delinquent loan has a face value of about $ [...]