![]() |
No Income, No Asset - But Here's Your Loan! - Printable Version +- The Lurker Lounge Forums (https://www.lurkerlounge.com/forums) +-- Forum: The Lurker Lounge (https://www.lurkerlounge.com/forums/forum-4.html) +--- Forum: The Lounge (https://www.lurkerlounge.com/forums/forum-12.html) +--- Thread: No Income, No Asset - But Here's Your Loan! (/thread-1976.html) |
No Income, No Asset - But Here's Your Loan! - Mordekhuul - 05-16-2008 For those uninitiated into the depths of what went on in the recent financial meltdown (such as myself), here is a This American Life broadcast that is both entertaining and informative. Picks up a lot after the intro, anyway, starting with the gentleman relaying the story of how he picked up a No Income, No Asset loan that he really, really didn't deserve. "Don't want to verify your income or assets? No problem, here's a loan for a few hundred thousand anyway." EDIT-Looks like I can't edit the subject, but TIA is a typo...was going for some kind of This American Life abbreviation, to save space. Sigh. No Income, No Asset - But Here's Your Loan! - Jim - 05-18-2008 Hi, Same as buying a Car or a House with Nothing Down, owner carries the Note. however the House is the Asset...Miss 1 [one] Payment & forclosure or Repo :angry: Quote:For those uninitiated into the depths of what went on in the recent financial meltdown (such as myself), here is a This American Life broadcast that is both entertaining and informative. |