February 2012
5 posts
Squashed: To catch a predatory lenderTo catch a... →
thecallus:
squashed:
So housing prices are low. But credit is tight. When people can’t get financing from a reputable source, they sometimes turn to less conventional—and generally predatory—options.
A lot of the scuzzy mortgage brokers turned into foreclosure rescue scammers, but now that game is running dry too….
Auto lending
When Debt Is More Important Than People, The... →
Let's stop blaming the victims of predatory...
squashed:
This is important.
The primary cause of the subprime collapse—which heralded in the Great Recession was bad loans not bad borrowers. At the peak of the subprime boom lenders structured loans in a way that virtually guaranteed that those loans would fail because it was profitable. Borrowers—particularly minority borrowers—were steered toward these designed-to-fail loans even when they...
Stevie NYC: Dear Fucker from Kansas that tried... →
stevienyc:
I WILL FUCKING DESTROY YOU.
I had my card declined today while trying to get lunch and was confused because for once in my life I actually have money in my account. I don’t carry cash with me because I’m a NYer and this is 2012, so I wasn’t able to get my lunch. Now I am hungry AND angry.
Did…