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	<title>Comments on: Should We Re-Call Defective Loans?</title>
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	<link>http://www.fhaloanpros.com/2008/03/should-we-re-call-defective-loans/</link>
	<description>The Unofficial Guide to FHA Loans &#038; Mortgages</description>
	<pubDate>Fri, 19 Mar 2010 02:38:18 +0000</pubDate>
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		<title>By: Nicole of Bend, Oregon</title>
		<link>http://www.fhaloanpros.com/2008/03/should-we-re-call-defective-loans/#comment-4152</link>
		<dc:creator>Nicole of Bend, Oregon</dc:creator>
		<pubDate>Wed, 19 Mar 2008 20:31:34 +0000</pubDate>
		<guid isPermaLink="false">http://www.fhaloanpros.com/2008/03/should-we-re-call-defective-loans/#comment-4152</guid>
		<description>I appreciated your article "Is It Time For A Mortgage Recall." In addition to the interest-only loans that had been offered, I have experienced a lender also qualifying me for a fixed-rate mortgage that makes my debt to income ratio about 55-60% (with very low credit card debt and no car payment.) Why? because I have a very good credit score. This has put an immense amount of pressure on me, as I also have to pay monthly child care ... and I'm a single mom. I'm now in the position where I need to sell my home after less than a year of living there.

I think the news a couple years from now is going to include situations like my own, asking the question ... Are lenders/brokers looking out for our best interest even if we have good credit? If this keeps up, people with excellent credit scores may find themselves in the position of loosing everything all at once.

Thank you for calling for greater responsibility on the part of the lenders.</description>
		<content:encoded><![CDATA[<p>I appreciated your article &#8220;Is It Time For A Mortgage Recall.&#8221; In addition to the interest-only loans that had been offered, I have experienced a lender also qualifying me for a fixed-rate mortgage that makes my debt to income ratio about 55-60% (with very low credit card debt and no car payment.) Why? because I have a very good credit score. This has put an immense amount of pressure on me, as I also have to pay monthly child care &#8230; and I&#8217;m a single mom. I&#8217;m now in the position where I need to sell my home after less than a year of living there.</p>
<p>I think the news a couple years from now is going to include situations like my own, asking the question &#8230; Are lenders/brokers looking out for our best interest even if we have good credit? If this keeps up, people with excellent credit scores may find themselves in the position of loosing everything all at once.</p>
<p>Thank you for calling for greater responsibility on the part of the lenders.</p>
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