September 21, 2007

Well, here's why housing crashed, mortgages melted down, and the world financial system has imploded. Thank you Ditech!

15 comments:

Anonymous said...

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....and over 100% of our customers are screwed!




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Stuck in So Pa said...

And their ads are still up and running on the TV. No panic at DiTech.

Anonymous said...

OK, I don't usually defend lenders, but DITECH is a CONVENTIONAL mortgage lender and not a subprime lender. I know their cheesy adds used to convey that message (the new ones are more sedate) but the worst mortgages they made were high quality Alt-A loans. There is a good article about them in an August BusinessWeek magazine where they admit they have a bad, and undeserved, rep. BTW they are owned by GMAC.

TM said...

"...and you can be confident that you're being taken care of every step of the way."

I'll say. Kind of like how the mob takes care of its enemies. I love the name too: the (Goodbye) Freedom Loan.

Anonymous said...

People are smart!

Anonymous said...

Hey, where's the Housing Panic post about this week's market action?

According to the Fox Business Block this morning, the DOW gained 2.8% this week. BUT what they failed to mention was how much value the greenback lost. That's where HP should've been as a public service: showing the DOW gain of this week in REAL (USDollar index) terms.

For extra credit HP could plot this week's DOW gain vs. gold. Now there's something a homeowner trapped in a depreciating asset in a society with a depreciating currency doesn't want to acknowledge. Sorry senor dopes!

realtor in training said...

Ditech are a bunch of weasels.Remember all those ditech commercials just pounding the airways about a year ago? Now they have changed their tune and are saying, "People are smart". Where do they come up w/ this garbage.Bunch of loan sharks in suits.

Anonymous said...

pets.com 2

Anonymous said...

DOW = 30 large multinational corporations that mostly produce their goods outside of the USA

Is it a good indicator of the US economy?

Anonymous said...

The US has shipped those low paying manufacturing jobs overseas for high paying service sector jobs like WalMart greeters and burger flippers. Haven't you noticed how much less debt Americans are carring these days?

George Orwell said...

[Debt] Slavery is Freedom [Loan].

Anonymous said...

funny thing everyone seems to ignore or forget accidentally on purpose LOL.... are these people ( ditech countrywide etc.) holding a gun to your head to sign up for these loans or do people voluntarily sign on the dotted line .... go figure ... and don't give me this BS about not knowing what they are getting roped into... if they don't.... they deserve it .... sheeple LOL.. it's that simple people .... do you blame visa or mastercard etc... for your high credit card debt ... did they force you to buy yourself into debt you can't get out of ..... did they ? that's ludacris you say ... of course not ... i did it to myself ... so did these subprime losers .... it's that simple .... why does everyone try to make it so complicated .... when it's so simple ....

Help_me said...

I actually need 150% load so I guess they won't work for me...damn.

I going to invest in Forever Stamps.

westwest888 said...

What I see in the future is that mortgages cease to be "asset backed" collateral. Rather, a mortgage just becomes a giant lien against your life as you know it, like a student loan.

Michael said...

FREEDOM LOANS!

Why do you peoplke hate freedom?