Home Loans Quotes & Sayings

Because the fees associated with a reverse mortgage are high, such loans make sense only for borrowers who expect to live in their home for a number of years. — Charles Duhigg

But a society that protects some people through a safety net of schools, government-backed home loans, and ancestral wealth but can only protect you with the club of criminal justice has either failed at enforcing its good intentions or has succeeded at something much darker. — Ta-Nehisi Coates

Alice kept thinking about that passage from one part of life to another. She kept thinking, Is this it? Will I know if it is? Will I be ready?Will I make it across? Will I chicken out? Will I know when I'm saying goodbye? When I look back, will I still be able to see what I've left behind? She thought she would know when it happened.But now, as she looked around, she wondered if it was really like that at all. Maybe it happened in a million different ways, when you were thinking of it and you weren't. Maybe there was no gap, no jump, no chasm. You didn't forget yourself all at once. Maybe you just looked around one time or another and you thought, Hey. And there you were. — Ann Brashares

My purpose is to refuel, refresh and rejuvenate moms. — Lisa Whelchel

Securities based on risky mortgages are what toppled financial institutions but it was the government that made the mortgages risky in the first place, by making home-ownership statistics the holy grail, for which everything else was to be sacrificed, including commonsense standards for making home loans. — Thomas Sowell

One of the biggest hurdles in the path of entrepreneurship is home loans! — Vishwas Mudagal

Sharecropping is the dirty little secret at the root of America's wealth - along with slavery itself. The immense profits generated by the industrious yet impoverished Black "sharecroppers" and "tenant farmers" financed Europe's and America's Industrial Revolution, including the building of their railroads, factories, mills, and their entire infrastructure. It is truthfully asserted that the major cities of America and the Western world were "built with bricks of cotton." Today the debt traps designed to ensnare the working poor and middle class in a lifelong cycle of debt - the high-cost installment loans that charge usurious interest rates of 100% or more, the "payday" loans that charge 400% interest, the extortionate credit card multi-charges, the subprime mortgages with ballooning interest rates, and the home equity loan swindles - are the bastard children of the sharecropping American South. It — Reclamation Project

Back in the 1980s, the original stated purpose of the mortgage-backed bond had been to redistribute the risk associated with home mortgage lending. Home mortgage loans could find their way to the bond market investors willing to pay the most for them. The interest rate paid by the homeowner would thus fall. The goal of the innovation, in short, was to make the financial markets more efficient. Now, somehow, the same innovative spirit was being put to the opposite purpose: to hide the risk by complicating it. The market was paying Goldman Sachs bond traders to make the market less efficient. — Michael Lewis

I won't give up on you; even if I have to knock all the doors around the world to find you. — M.F. Moonzajer

But first of all we must will, for the will is master of the heart. — A.W. Tozer

Back then, we all thought Lever 2000 was the best because the number "2000" seemed so impressive. Were there 1999 formulas before they landed on this one? That sounds really well researched. I'm in! — Mindy Kaling

Public service is good for you, — Jim Flaherty

Student debt is crushing the lives of millions of Americans. How does it happen that we can get a home mortgage or purchase a car with interest rates half of that being paid for student loans? We must make higher education affordable for all. We must substantially lower interest rates on student loans. This must be a national priority. — Bernie Sanders

Students graduating with high debt encounter difficulties in qualifying for home and automobile loans. — Hank Johnson

As far as income tax payments go, sources vary in their accounts, but a range of studies find that immigrants pay between $90 billion and $140 billion in Federal, State, and local taxes. — Luis Gutierrez

The sudden introduction of these magic mortgage bonds into the marketplace pushed most every major institutional investor in the world to suddenly become consumed with the desire to lend money to American home borrowers, even if they didn't know to whom exactly they were lending or how exactly these borrowers were qualifying for their home loans. As a result of this lunatic process, houses in middle- and lower-income neighborhoods from Fresno to the Jersey Shore became jammed full of new home borrowers, millions and millions of them, who in many cases were not equal to the task of making their monthly payments. The situation was tenable so long as housing prices kept rising and these teeming new populations of home borrowers could keep their heads above water, selling or refinancing their way out of trouble if need be. But the instant the arrow began tilting downward, this rapidly expanding death-balloon of phony real estate value inevitably had to - and did - explode. — Matt Taibbi

In advertising, sex sells. But only if you're selling sex. — Jef I. Richards

The combination of these two trends - declining real wages and inflated asset prices - led the American middle class to use debt as a substitute of income. People lacked adequate earnings but felt wealthier. A generation of Americans grew accustomed to borrowing against their homes to finance consumption, and banks were more than happy to be their enablers. In my generation, second mortgages were considered highly risky for homeowners. The financial industry re-branded them as home equity loans, and they became ubiquitous. Third mortgages, even riskier, were marketed as 'home equity lines of credit. — Robert Kuttner

The origin of innovation and entrepreneurship is a creative mindset — Michael Harris

Debt certainly isn't always a bad thing. A mortgage can help you afford a home. Student loans can be a necessity in getting a good job. Both are investments worth making, and both come with fairly low interest rates. — Jean Chatzky

Every time a bank swoops down to snatch up a home, it should be met with a crowd of jeering, obstructive neighbors. And although this may be point 4.5, how about organizing a mass refusal to pay back student loans? — Barbara Ehrenreich

Bad debt is debt that makes you poorer. I count the mortgage on my home as bad debt, because I'm the one paying on it. Other forms of bad debt are car payments, credit card balances, or other consumer loans. — Robert Kiyosaki

This dope money here is Lil Treys scholarship
Cause aint no to tuition for havin no ambition
And aint no loans for sittin your ass at home — Kanye West

It's time to pull the bandage off America's foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon we need to speed the resolution of millions of troubled home loans. Six years have passed since the crisis began, yet instead of accelerating, foreclosures have slowed. — Mark Zandi

There's more student debt than credit card debt! Everywhere I go, I run into young people trying to build careers while they keep shelling out money on their education loans. If the economy is looking for a new generation of home-buyers, I can't imagine they'll get it from these folks. — Gail Collins

Back in July 2003, he'd written them a long essay on the causes and consequences of what he took to be a likely housing crash: "Alan Greenspan assures us that home prices are not prone to bubbles - or major deflations - on any national scale," he'd said. "This is ridiculous, of course ... . In 1933, during the fourth year of the Great Depression, the United States found itself in the midst of a housing crisis that put housing starts at 10% of the level of 1925. Roughly half of all mortgage debt was in default. During the 1930s, housing prices collapsed nationwide by roughly 80%. — Michael Lewis

When the Goldman Sachs saleswoman called Mike Burry and told him that her firm would be happy to sell him credit default swaps in $100 million chunks, Burry guessed, rightly, that Goldman wasn't ultimately on the other side of his bets. Goldman would never be so stupid as to make huge naked bets that millions of insolvent Americans would repay their home loans. He didn't know who, or why, or how much, but he knew that some giant corporate entity with a triple-A rating was out there selling credit default swaps on subprime mortgage bonds. Only a triple-A-rated corporation could assume such risk, no money down, and no questions asked. Burry was right about this, too, but it would be three years before he knew it. The party on the other side of his bet against subprime mortgage bonds was the triple-A-rated insurance company AIG - American International Group, Inc. — Michael Lewis

In the face of suffering, one has no right to turn away, not to see. — Elie Wiesel

Trailer home borrowers, mostly near the bottom of the economic ladder, often default on their loans. — Alex Berenson

Small loans can transform lives, especially the lives of women and children. The poor can become empowered instead of disenfranchised. Homes can be built, jobs can be created, businesses can be launched, and individuals can feel a sense of worth again. — Natalie Portman

Consider the recent financial crisis and its link to faulty reward systems. President Bill Clinton's objective of increasing homeownership by rewarding potential home buyers and lenders is one example. The Clinton administration "went to ridiculous lengths" to increase homeownership in the United State, promoting "paper-thin down payments" and pushing lenders to give mortgage loans to unqualified buyers according to Business Week editor Peter Coy. — Max H. Bazerman

And what people want to own, of course, is real estate. So a dental hygienist with bad credit making forty thousand dollars a year felt that she deserved to park her ass in a million-dollar home. With a little creative financing, and as long as housing prices continued to rise, she believed that she could afford a million-dollar home. And as long as the dental hygienist continued to pay interest on the mortgage for the million-dollar home, as long as housing prices continued to rise, as long as more loan officers approved more loans for more dental hygienists with bad credit who could continue to pay the interest on their overblown mortgages, housing prices would indeed stay stratospheric, and banks could print money based on that certainty. And, like your nursery rhyme, that was the house that Jack built." Kalchefsky — Jade Chang

Unpleasant odor wafting from the subprime mortgage industry that Eisman had detected. These companies disclosed their ever-growing earnings, but not much else. One of the many items they failed to disclose was the delinquency rate of the home loans they were making. — Michael Lewis

They had come for us in the night. Hey had come expecting a lot of blood. They had come with all their gear. Their rubber overshoes and their nylon bodysuits. Their knives, their hammer, their bag of nails. They had come to do a job on us, like they'd done on Morrison and his wife. — Lee Child

Cult leaders are often self-styled prophets who have not studied with great teachers or undergone lengthy training or discipline themselves ... Many of the most dangerous cultic figures of our times have no such stabilizing context of tradition, lineage or transmission, but are self-proclaimed gurus who sway their followers through their charismatic talents ... — John Welwood

Unlike other loans, a reverse mortgage doesn't have to be repaid until the borrower moves out of the home or passes away. — Jean Chatzky

Like many other banks and finance companies, Green Tree used a process called securitization to resell its home loans to outside investors. Green Tree grouped thousands of these small loans into a pool worth hundreds of millions of dollars. — Alex Berenson

It only took Alexis a day to read a five-hundred page book. Fiction stories took her to another world where she could lose herself for a while in someone else's life.
Its funny how things like loans to pay back, a broken home and family, and a future to worry about meant nothing to characters who only had to worry about things like boys, beaches and fun. — Lindsay Chamberlin

Income tax rules also made borrowing against a home's equity attractive. Because mortgage interest payments can be deducted for income tax purposes, the interest paid on home equity loans could also be deducted, although interest on credit card debt or other debt was not deductible. Therefore it often paid anyone with any other kind of debt to pay off that debt with a home equity loan, whose interest would be deductible for income tax purposes. More and more people began to do this during the housing boom. In 2003, home equity loans totaled $593 billion. Such loans soared during the housing boom, nearly doubling to $1.13 trillion in 2007. — Thomas Sowell