Original broadcast (UK): Wednesday 29 October 2003, 7.30pm, BBC TWO.
[00:00 - 09:01 of 00:27:00]
Part 1
00:00 – 01:10 : Introduction.
01:10 – onwards : Andy Ashford from Ealing, London.
02:32 – 03:04 : Brief overview of the UK housing market (2003).
03:04 – 06:14 : Liar Loan #1 – Undercover at Rolfe East estate agents.
06:14 – 06:58 : Tony Shaw QC highlights the criminality of committing mortgage fraud.
06:58 – 08:10 : Andy Ashford contemplates mortgage fraud to avoid being priced out any further.
08:10 – 09:01 : Dr Desmond Fitzgerald identifies the risks of borrowing in excess of 6x your income.
“BBC TWO’s The Money Programme has revealed a huge mortgage fraud with brokers from some of Britain’s biggest estate agents and financial advice groups advising customers to break the law and lie about their incomes to get massively bigger mortgages.
And it shows how the illicit cash raised by this method has been pouring into the housing market, boosting prices and leaving many people risking financial ruin.
…
The Money Programme found that during the investigation brokers advised the undercover researchers to lie on applications for self-certified mortgages from, among others, The Bank of Scotland, The Mortgage Business and Birmingham Midshires.
All three are part of the Halifax Bank of Scotland Group Britain’s biggest mortgage lender.
…
The Money Programme requested an interview with HBOS Chief Executive James Crosby but he declined to be interviewed.”
James Crosby was knighted for services to the finance industry in June 2006. RBS bank boss Fred Goodwin was knighted in June 2004.
Source: http://www.bbc.co.uk/pressoffice/pressreleases/stories/2003/10_october/29/money_programme_mortgage.shtml
Video source: http://video.google.co.uk/videoplay?docid=-8482518243122067675&hl=en-GB#
Duration : 0:9:1
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Technorati Tags: House Price Crash, House Prices, liar loans, Money Programme, Mortgage Madness, Mortgages, Self Certification
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For more information, call or visit our experience brokers at:
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Duration : 0:0:33
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WSJ’s Steve Moore weighs in
Duration : 0:3:24
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For more info: http://www.c21shortsalexpert.com
Marisa Lopez Raster is a real estate agent in north San Diego County and specializes in short sales, foreclosure investment, and mortgage advice. In this video Marisa goes in great detail to explain the features, benefits, and drawbacks, of the three major types of real estate mortgage loans: the VA, the FHA, and the Conventional Loan.
Marisa is an experienced realtor and can help you buy a home or sell your home in the north San Diego county area. This video goes into great detail and is very specific.
Contact:
760-801-6714
marisac21mission@gmail.com
To see other videos by Dr. Kelly, please visit his channel at: http://www.youtube.com/marisac21mission
Duration : 0:9:22
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To find out more about this subject click here: http://www.creditnowusa.com/Reverse-Mortgage
Credit Now USA offers assistance and advice on all matters pertaining to personal credit. Click here to find out more: http://www.creditnowusa.com/
Duration : 0:0:23
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Technorati Tags: mortgage, mortgage loan, reverse mortgage, reverse mortgages
http://www.peoplestandup.ca
by Terrence MdKenna’s voice that this is from “DocZone,” a CBC.ca
The credit crunch
The global financial crisis (GFC) or global economic crisis is commonly believed to have begun in July 2007 with the credit crunch, when a loss of confidence by US investors in the value of sub-prime mortgages caused a liquidity crisis. This, in turn, resulted in the US Federal Bank injecting a large amount of capital into financial markets. By September 2008, the crisis had worsened as stock markets around the globe crashed and became highly volatile. Consumer confidence hit rock bottom as everyone tightened their belts in fear of what could lie ahead.
The sub-prime crisis and housing bubble
The housing market in the United States suffered greatly as many home owners who had taken out sub-prime loans found they were unable to meet their mortgage repayments. As the value of homes plummeted, the borrowers found themselves with negative equity. With a large number of borrowers defaulting on loans, banks were faced with a situation where the repossessed house and land was worth less on today’s market than the bank had loaned out originally. The banks had a liquidity crisis on their hands, and giving and obtaining loans became increasingly difficult as the fallout from the sub-prime lending bubble burst. This is commonly referred to as the credit crunch.
Although the housing collapse in the United States is commonly referred to as the trigger for the global financial crisis, some experts who have examined the events over the past few years, and indeed even politicians in the United States, may believe that the financial system was needed better regulation to discourage unscrupulous lending.
The global financial crisis enters a new phase
The collapse of Lehman Brothers on September 14, 2008 marked the beginning of a new phase in the global financial crisis. Governments around the world struggled to rescue giant financial institutions as the fallout from the housing and stock market collapse worsened. Many financial institutions continued to face serious liquidity issues. The Australian government announced the first of it’s stimulus packages aimed to jump-start the slowing economy.
The U.S. government proposed a $700 billion rescue plan, which subsequently failed to pass because some members of US Congress objected to the use of such a massive amount of taxpayer money being spent to bail out Wall Street investment bankers who some people may have believed could be one of the causes of the global financial crisis.
By September and October of 2008, people began investing heavily in gold, bonds and US dollar or Euro currency as it was seen as a safer alternative to the ailing housing or stock market.
In January of 2009 US President Obama proposed federal spending of around $1 trillion in an attempt to improve the state of the financial crisis. The Australian government also proposed another stimulus package, pledging to give cash handouts to tax payers, and spend more money on longer-term infrastructure projects.
Australia’s response to the global financial crisis – the first stimulus package
Australian prime minister Kevin Rudd and Treasurer Wayne Swan delivered their first budget in response to the global financial crisis, with the main objective being to fight inflation – a major problem in the local economy at the time.
The global financial crisis enters a new phase
The collapse of Lehman Brothers on September 14, 2008 marked the beginning of a new phase in the global financial crisis. Governments around the world struggled to rescue giant financial institutions as the fallout from the housing and stock market collapse worsened. Many financial institutions continued to face serious liquidity issues. The Australian government announced the first of it’s stimulus packages aimed to jump-start the slowing economy.
The U.S. government proposed a $700 billion rescue plan, which subsequently failed to pass because some members of US Congress objected to the use of such a massive amount of taxpayer money being spent to bail out Wall Street investment bankers who some people may have believed could be one of the causes of the global financial crisis.
By September and October of 2008, people began investing heavily in gold, bonds and US dollar or Euro currency as it was seen as a safer alternative to the ailing housing or stock market.
In January of 2009 US President Obama proposed federal spending of around $1 trillion in an attempt to improve the state of the financial crisis. The Australian government also proposed another stimulus package, pledging to give cash handouts to tax payers, and spend more money on longer-term infrastructure projects.
Duration : 0:44:58
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http://www.flipthiswholesaler.net Steph Davis answers a question about wholesaling houses to end buyers who plan on getting a conventional loan.
Duration : 0:5:31
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Technorati Tags: assigning contracts, Conventional Loans, wholesaling real estate
Suze talks with Matt Lauer about options YOU have for paying down your mortgage. She also discusses exactly why mortgage rates move up when inflation starts to set in. A definite must watch.
Duration : 0:5:42
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Technorati Tags: mortgage rates, Pay Off Mortgage, Suze Orman
Tanya Marchiol of Team Investments on the state of the housing market.
Duration : 0:5:58
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The proposed Obama Administration settlement for mortgage lenders that engaged in widespread foreclosure abuses is a weak slap on the wrist for banks according to consumer advocates and liberal activists. The Young Turks host Cenk Uygur explains.
http://www.washingtonpost.com/business/economy/settlement-with-mortgage-lenders-inadequate-activists-say/2012/01/23/gIQAGNzDMQ_story.html
Feds Won’t Prosecute Banks Despite Evidence Of Crimes: http://www.youtube.com/watch?v=L-yqXnzBmLk
Subscribe to The Young Turks: http://bit.ly/eWuu5i
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Duration : 0:4:19
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Technorati Tags: bank immunity, bank investigation, banks immunity, banks settlement, campain for america's future, Cenk Uygur, cfaf, fbi bank fraud, fbi mortgage fraud, financial collapse, foreclosure settlement, mortgage investigation, mortgage settlement, moveon.org, obama banks settlement, obama mortage, obama mortgages, robert borosage, wall street investigation, young turks