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It’s About Time

Posted by Non-Hamster on August 13th, 2007

...That this finally started being done.... instead of just throwing money at the thing, there's the beginnings of doing something about it.


The Federal Reserve reports that a significant portion of the nation's banks have
tightened lending standards on subprime mortgages. It's another indication of the
spreading problems in mortgage lending.

I realize that by tighening these standards, these mortgages are going to be harder to get and I am not a hamster, I know that also means that a lot of people who need money are going to have a harder time qualifying for the loans.  Yet having fewer forclosures would be a big plus right about now.

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