Quotes of All Topics . Occasions . Authors
For my very first movie, 'Roger and Me,' I made it as part of my deal with Warner Brothers that the four people that were evicted in that film, that Warner Brothers would house - would pay their mortgage or their rent for the next two years to give them a chance to get on their feet.
Created by Congress as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the CFPB was a direct response to the financial crisis and ensuing Great Recession that began with the subprime mortgage debacle and the unraveling of Lehman Brothers investment bank.
The FHA's success provides strong evidence that government can and should play a role in the nation's mortgage finance system. It also demonstrates that although government intervention in the economy during the Great Recession was messy, things would have been a lot messier without it.
After holding hearings to get input from Missourians, I led the fight to pass legislation that protects seniors from predatory lending in the mortgage industry. I stood up against efforts that would make it harder for seniors to vote, and battled telemarketers bent on defrauding seniors.
What the mortgage bubble was all about was big banks like Goldman Sachs taking big bundles of subprime mortgages that were lent out largely to low-income, highly risky borrowers, and applying this kind of magic-pixie-dust math to these bundles of securities and slapping AAA ratings on them.
If you can't afford the upkeep of your home, it makes no sense to do a reverse mortgage. You will just end up having to sell eventually when you realize you can't afford the home, and whether you have any equity left after the sale depends on the size of the reverse loan that must be settled.
Deception can cost billions. Think Enron, Madoff, the mortgage crisis. Or in the case of double agents and traitors, like Robert Hanssen or Aldrich Ames, lies can betray our country. They can compromise our security. They can undermine democracy. They can cause the deaths of those that defend us.
You can refi your car loan just like you can refi your mortgage. It's even easier and less expensive. There's no appraisal process, and fees are minimal for a new car title. A couple of caveats: Most lenders require that the car be less than five years old and have a minimum loan balance of $7,500.
In the old days, when you took out a mortgage, it was probably through a local bank or a credit union, and whoever gave you your loan held on to it for life. If you lost your job or got too sick to work and suddenly had trouble making your payments, you could call a human being and work things out.
There are conventions for people with serious, boring inventions, but fad inventors need help. You need someone to talk to. You just can't tell your friends you're going to invent a pet rock and mortgage your house to pay for it. It's embarrassing... risky mentally. Your friends think you're crazy.
Even tax breaks that are supposed to help the middle class too often skew toward the wealthy. Consider the mortgage interest deduction. While political leaders in both parties have long considered it untouchable, it actually helps those at the top of the income scale far more than those at the bottom.
If we had created rules to automatically turn up the required down payment on a home when there's a housing bubble, or just say that the mortgage on a property cannot be larger than the value of the property three years ago, the amount of human misery that would've been avoided would've been enormous.
When the mortgage giant Fannie Mae recruited Daniel H. Mudd, he told a friend he wanted to work for an altruistic business. Already a decorated marine and a successful executive, he wanted to be a role model to his four children - just as his father, the television journalist Roger Mudd, had been to him.
Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.
It makes me very, very happy to get someone a world title shot, which I've done with a few fighters, or a European title shot or a British title, and I see them lift that belt above their waist and they come to me and say 'Thanks Ricky. I've just paid my mortgage off with that.' That's what its all about.
I was going to become a youth worker because I do voluntary work with the kids in the little village where I live. I make little films with them and stuff when I'm not working. I thought, I'll pack it in then, and go and do something I love doing, and get a regular job because I've got two kids and a mortgage.
You know, I am mainstream America, and it really doesn't matter what party you're in. When you call your children and you say 'How are you?' - and what you are really asking is, 'Do you still have your job? And are you able to make the mortgage payment?', That resonates across the state, not across party lines.
You can look at what I did in the Senate. I did introduce legislation to rein in compensation. I looked at ways that the shareholders would have more control over what was going on in that arena. And specifically said to Wall Street, that what they were doing in the mortgage market was bringing our country down.
Canadians know that the promise of a recession didn't happen because of anything we did here. If you look at all the causes of the recession, problems in mortgage markets, the problems in the banking sector, the problems in government finance in countries like Greece, none of those problems were in present Canada.
When I first came to L.A., I was plotting out my career choices as if I actually had a choice. Unless you're Brad Pitt, Johnny Depp, impossibly good-looking, or look like a freak, you have to be malleable and open to everything that comes your way because that's what makes it possible to pay your mortgage and eat.
My motivation is paying the mortgage. No joke. Honestly. I still suffer with nerves and think, 'Why am I putting myself through this torture?' It's not actually the love of winning - it's that building of a partnership with a horse. Just riding horses every day keeps me going. And that threat of losing the mortgage.
I always gravitate towards the independent side of things, just because those are the stories I always fall in love with, but you don't really get paid, and living in Los Angeles is expensive, and I have a mortgage to pay. So it's good to jump onto a studio film and then in all my other time do small passion projects.
Mint's business model became, 'We'll go for free, and then we'll find these savings opportunities for you.' You know, better interest rate on your credit cards, when should you consolidate your student loans, when does it mathematically make sense to refinance your mortgage, and Mint figures all that stuff out for you.
Potential home buyers have a two-step decision process. First, they determine whether they can afford to make a purchase - does their income safely cover their mortgage payment? Then they determine whether owning is a better financial choice than renting - are the costs of owning a home lower than the cost of renting it?
People find themselves in ruts all the time. You're in a complacent lifestyle where you work 9 to 5 and then you add a mortgage and kids. You feel trapped, but guess what, brother? You constructed that life. If you're OK with it, there's nothing wrong with that. But if you've got unease, then you've got to make a change.
Our children lost our direction because they have been compromised. They have found freedom at the ballot box, and then they have taken on plastic chains around their minds and souls and mortgage their future on credit cards. They have to learn better - they have to learn the value of ideas and health as opposed to wealth.
I think it is only natural that people have anxiety about the economy because the economy is real. It is their job, their ability to service their mortgage and look after their family. And in the final analysis, nothing is more important than your capacity as a breadwinner or an earner to provide for those that rely on you.
In September 2008, the two largest housing mortgage companies called Fannie Mae and Freddie Mac, which were government-sponsored enterprises, which hold hundreds of billions of dollars of mortgages, because of the losses they took on the mortgages, they essentially became insolvent, and the government had to take them over.
One lesson I got from Gandhi, 'Be the change you want to see,' haunts me. I just feel like I can't keep stomping around pointing the finger at BP when I am supporting the oil industry with my very own dollars and actions by buying their products, helping to pay their mortgage - plastic is from oil... polyester, shower curtains.
I don't have a partner, so I take care of the mortgage by myself, and I was thinking, 'Oh God, I'm going to have to sell the house or find a new career.' I was not in a good place, but it was a real spur to get 'The Girl on the Train' right. I had to nail it and do it really well. It really concentrates the mind, that kind of thing.
We survived for hundreds of years under the old banking structure. You'd have clearing banks, then merchant banks doing the racy stuff, and then building societies where you'd join a waiting list for a mortgage. But then banks started buying stockbrokers, doing mortgages, and you ended up with these big banking groups doing everything.
Remember the Tea Party movement didn't get started in September of 2008 when the bank bailout was passed. It really began on Feb. 19th, 2009 when a television commentator named Rick Santelli stood up and said what the hell are we doing bailing out people who couldn't afford a mortgage by taking money from people like me who are prudent?
If you followed this economic crisis and you do not think that the world is getting flatter, you are not paying attention. We saw the entire global economy at one time acting totally in sync. The real truth is the world is even flatter than I thought. Our mortgage crisis is killing Deutsche Bank. You still don't think the world is flat?
Missing paperwork is one of the top reasons for delays during the mortgage process. I suggest following the two-by-two system: two most recent pay stubs, tax returns, W-2s from your employer, and bank statements from all of your savings and checking accounts. Be sure to remain clear and transparent, provide evidence of all forms of income.
We no longer have a significant middle class in the US due to Barack Obama's job-killing ban on oil drilling in Zion Park. While a small middle class remains in the coastal blue states, our tax bill devastates them by curbing deductions for state and local taxes and large mortgages. In a few years, everyone except the 1% will be a tricklee.
When I was a little kid, I wrote this play about all these characters living in a haunted house. There was a witch who lived there, and a mummy. When they were all hassling him, this guy who bought the house - I can't believe I remember this - he said to them, 'Who's paying the mortgage on this haunted house?' I thought that was really funny.
A lot of these things have hurt the average American. When they look at the banks and they say, "Well, the bank's talking its own game," I am telling you, what we've done in mortgage lending, our inability to have proper regulations around mortgages, has hurt average Americans. First-time buyers, immigrant buyers, prior defaults, self-employed, because they can't get a mortgage. Will it make a big difference to JPMorgan Chase? No, but you're hurting my fellow citizens. Let's go at it, and let's fix it.
