NLIC.org

Lori Said:

How did Bush encourage the mortgage companies to develop exotic loan products for the subprime market?

We Answered:

You can't hang this on Bush. All the elements were created before he came into office. The R/E bubble collapse is not a "disaster." It is a perfectly normal end to the latest financial bubble. Everyone who got hurt voluntarily took the risk.

Ashley Said:

How is this going to affect the banks and mortgage companies?

We Answered:

They would have to show economic impact from the oil spill in order to qualify.

If many people default on their mortgages, the economic impact would be horrendous. This action lessens the economic impact to our nation as a whole.

Gabriel Said:

Is it illegal to work for two mortgage companies?

We Answered:

It should be OK unless it is in the employment rules.
It is America and we should be able to work where and when we want. Check those rules and guidelines.............xx

Oscar Said:

Why does my mortgage companies keep selling my mortgage again and again. How will this affect credit score?

We Answered:

This happens all the time and it doesn't effect your credit score in any way. No need for concern here.

Mortgages are sold in bulk on the secondary market. Investment companies review "packages" of mortgages and purchase them from lenders. This frees up money for lenders to make new loans.

Hope this all makes sense, but there is no need for you to be concerned, that is the bottom line.

Kenneth Said:

Can the mortgage companies insurance company come after me for their loss after a forclosure in CT?

We Answered:

No- they are a mortgage INSURANCE company. They insure the lender against losses like this, and that is why you had to pay for the insurance. The mortgage company themselves can still come after you if you owe them money, but you did not agree to a debt with the insurance provider so how can they expect you to pay?

Tyler Said:

I want to sue the mortgage companies for negligence?

We Answered:

Yes, you have a case of the dumbass, asking stupid questions.