Re:Americans Hold Over $4.1T in Consumer Debt
by matwood on Monday February 27, 2017 @11:00AM
(#13745136)
Not even in the same ball park as 2008. Auto loans are a lot easier to recover than a home loan. If you don't pay your auto loan they just come pick up the car. Then they get to resell the car again. This is completely different than a home loan in both value, and the process for the lender recover the collateral.
Home loans right now are still very tight. I had to provide more documentation for a simple refi with the same bank, than I had to provide in 2011 when I purchased the home. When I asked why, they responded that regulations have continued to tighten since them.
When dogs can get a 500k home loan and then sell the house a month later for 600k I might start believing we are back in 2008.
Home loans right now are still very tight. I had to provide more documentation for a simple refi with the same bank, than I had to provide in 2011 when I purchased the home. When I asked why, they responded that regulations have continued to tighten since them.
When dogs can get a 500k home loan and then sell the house a month later for 600k I might start believing we are back in 2008.