1. Where is All That Money Made by Mortgage Companies?
Where did all the money go? Throughout the 1990s and early part of the new millennium, mortgage companies, great and small made a ton of money. So why is everyone clamoring for bailouts? Why can't they just live off of their savings and weather the storm? The answer is boring, but it is also the harsh reality faced by those who make money by loaning money. Competitive lending practices of the last 15 years have kept interest rates at bay. In the 1980s home owners were faced with interest rates on their mortgages that were double digits as a standard. Nowadays, those sorts of rates would be con...
- Word Count: 443
- Approx Pages: 2
- Grade Level: High School