Mortgage Quotes

Now, suppose that a homeowner puts down only 3% of their own money or 3.5% for the FHA. That means if prices go down by only 3%, the house will be in negative equity and it would pay the homeowner just to walk away and say, "The house now is worth less than the mortgage I owe. I think I'm just going to move out and buy a cheaper house." So it's very risky when you have only a 3% or 3.5% equity for the loan. The bank really isn't left with much cushion as collateral. ~ Michael Hudson

They had stumbled either upon a serious flaw in modern financial markets or into a great gambling run. Characteristically, they were not sure which it was. As Charlie pointed out, It's really hard to know when you're lucky and when you're smart. ~ Michael Lewis

Long Beach Savings was the first existing bank to adopt what was called the "originate and sell" model. This proved such a hit - Wall Street would buy your loans, even if you would not! - that a new company, called B&C mortgage, was founded to do nothing but originate and sell. ~ Michael Lewis

I got told so many times I needed a manager. For a long time I resisted, and I finally got one so I can pay my mortgage, and it helped me from becoming a homeless person. ~ Cat Power

I've got a huge, huge position in mortgage-backed securities. I started accumulating them in 2009, when the market was really down and things were really scary. ~ Jeff Greene

When the Goldman Sachs saleswoman called Mike Burry and told him that her firm would be happy to sell him credit default swaps in $100 million chunks, Burry guessed, rightly, that Goldman wasn't ultimately on the other side of his bets. Goldman would never be so stupid as to make huge naked bets that millions of insolvent Americans would repay their home loans. He didn't know who, or why, or how much, but he knew that some giant corporate entity with a triple-A rating was out there selling credit default swaps on subprime mortgage bonds. Only a triple-A-rated corporation could assume such risk, no money down, and no questions asked. Burry was right about this, too, but it would be three years before he knew it. The party on the other side of his bet against subprime mortgage bonds was the triple-A-rated insurance company AIG - American International Group, Inc. ~ Michael Lewis

Don't mortgage tomorrow's possibilities by settling for today's reality. ~ Orrin Woodward

ran - at separate times - a boutique investment banking firm and a small mortgage company. He served as the Treasurer for the multinational vitamin manufacturer USANA Health Sciences years before becoming CFO for MonaVie. Devin squeezed in two brief stints in government, including two years working for Jake Garn on the U.S. Senate Banking Committee Staff and another year working for an independent state agency called USTAR, where he helped foster technology entrepreneurship during Governor Jon Huntsman's administration. Devin is proud to be a Ute, having graduated from the University of Utah David Eccles School of Business, which recognized him as a Distinguished Alum in 2006. He also earned an MBA at Cornell University where he ran the student newspaper, Cornell Business. ~ Devin D. Thorpe

The one thing that offends me the most is when I walk by a bank and see ads trying to convince people to take out second mortgages on their home so they can go on vacation. That's approaching evil. ~ Jeff Bezos

Why? So you can still qualify for assistance? Your family is gaming the system?"

"No." Diana had always hated when people said this about her family. The bosses who made her dad list a payroll company as his employer, they gamed the system. The assholes who convinced her parents to take out both a second mortgage and a HELOC in 2006 gamed the system. The employers who would never give Edith enough hours for benefits gamed the system. But ask a lot of people, and they'd tell you it's people like her grandma who game the system. They'd tell you that an old woman who's worked hard every day of her life and still struggles to get by is a malignant vacuum for their personal tax dollars, and a blight on their lives as free Americans. "We're just trying to live. ~ J. Ryan Stradal

The people that make this country work, the people who pay on their mortgages, the people getting up and going to work, striving in this recession to not participate in it, they're not the enemy. They're the people that hire you. They're the people that are going to give you a job. ~ Rush Limbaugh

No doubt it often happens that a child possesses qualities of his ancestors which were perhaps missing in his parents, or even two or three generations back; however, this is another heritage, a heritage which is known to us as such. I might express this by saying that a soul borrows a property from the spheres of the jinn, and a more concrete property from the physical world; and as it borrows this property, together with this transaction it takes upon itself the taxation and the obligations as well as the responsibilities which are attached to the property. Very often the property is not in proper repair, and damage has been done to it, and it falls to his lot to repair it; and if there be a mortgage on that property that becomes his due. Together with the property he becomes the owner of the records and the contracts of the property which he owns. In this is to be found the secret of what is called Karma. ~ Hazrat Inayat Khan

The future that I will not live to see is the one my children will live in. That's my immortality. And I shouldn't try to mortgage theirs for my benefit. ~ Justin Cronin

Thirty-nine was the best year of my life earnings-wise. I paid off my mortgage and felt a massive sense of achievement. ~ Nicki Chapman

You have the mainstream bourgeois life of the U.S., Europe, the "developed" world - the life of technology, education, mortgages, careers, a certain level of physical comfort - while on the other hand, several billion people on the planet exist on less than a dollar a day. That's a huge and terrible reality to get your head around. ~ Ben Fountain

For though there was no chance of persuading a pension fund manager looking to make a longer-term loan to buy a Freddie Mac bond that could evaporate tomorrow, one could easily sell him the third tranche of a CMO. ~ Michael Lewis

Out here in the Pacific, they have typhoons and hurricanes that blow over 200 miles an hour. We have tornadoes and hurricanes back home, but I don't worry about them. The mortgage on my house is so heavy that nothing could budge it. ~ Bob Hope

I love the stage, but it doesn't pay the mortgage. ~ David Harewood

Do you want to spend most of your life paying off the interest of a 30-year mortgage and working so you can fill increasingly bigger houses with increasingly more stuff while being stuck in your daily commute in increasingly nicer cars? ~ Jacob Lund Fisker

For while white conservatives use government assistance copiously--whether it be Social Security, or mortgage tax relief, low-interest federal college loans or Medicare--in their political discussions they tend to define their benefits as not being "welfare," in contrast to the somehow less noble assistance provided to their black and brown neighbors. ~ Sasha Abramsky

I would beg the wise and learned fathers (of the church) to consider with all diligence the difference which exists between matters of mere opinion and matters of demonstration ... [I]t is not in the power of professors of the demonstrative sciences to alter their opinions at will, so as to be now of one way of thinking and now of another ... [D]emonstrated conclusions about things in nature of the heavens, do not admit of being altered with the same ease as opinions to what is permissible or not, under a contract, mortgage, or bill of exchange. ~ Galileo Galilei

Stress is when you're 29 years old, playing for Rochdale, with an expiring contract and a mortgage to pay. ~ John Gregory

Because the fees associated with a reverse mortgage are high, such loans make sense only for borrowers who expect to live in their home for a number of years. ~ Charles Duhigg

People are living longer than ever before, a phenomenon undoubtedly made necessary by the 30-year mortgage. ~ Doug Larson

One lesson I got from Gandhi, 'Be the change you want to see,' haunts me. I just feel like I can't keep stomping around pointing the finger at BP when I am supporting the oil industry with my very own dollars and actions by buying their products, helping to pay their mortgage - plastic is from oil ... polyester, shower curtains. ~ Kristin Bauer Van Straten

The people on Wall Street broke this country, and they did it one lousy mortgage at a time. It happened more than three years ago, and there has been no real accountability, and there has been no real effort to fix it. ~ Elizabeth Warren

Black people were viewed as a contagion. Redlining went beyond FHA-backed loans and spread to the entire mortgage industry, which was already rife with racism, excluding black people from most legitimate means of obtaining a mortgage. ~ Anonymous

A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years. ~ Alan Greenspan

But there was something telling about that photograph, I thought; our protective glass frame shattered and now here we were, punctured with microscopic holes that might one day tear. Those holes all had names: mortgage, adolescent child, lack of communication, retirement savings, cancer. ~ Mary Kubica

Their lives are the same for generations. There is no social upheaval that will really affect them. If you're comfortably middle-class, what's the worst a government policy could do? Ever? Tax you at 90 percent and leave your bins unemptied on the pavement. But you and everyone you know will continue to drink wine-- but maybe cheaper-- go on holiday-- but somewhere nearer-- and pay off your mortgage--although maybe later. ~ Caitlin Moran

Everywhere the crisis of the private financial system has been transformed into a tale of slovenly and overweening government that perpetuates and is perpetuated by a dependent and demanding population ... For about ten days the crisis was interpreted as a consequence of the ineptitude of the highly paid, and then it transmogrified into a grudge against the populace at large. ~ Marilynne Robinson

Ladies and babies, and mortgages, for that matter, can all wait. Acting has done a strange thing to me, though. I often sit there, thinking, 'I love this, but I wouldn't put my daughter on the stage.' ~ Eddie Redmayne

I think we've been dulled by capitalism. We're just blobs now - we're so worried about how we can keep paying the lease on the car, the mortgage, the lease on the toaster and all that. You can't really think about much else. If you lose that, you lose the whole lot. ~ Rupert Everett

The paid-off home mortgage has taken the place of the BMW as the status symbol of choice. ~ Dave Ramsey

The people in a position to resolve the financial crisis were, of course, the very same people who had failed to foresee it: Treasury Secretary Henry Paulson, future Treasury Secretary Timothy Geithner, Fed Chairman Ben Bernanke, Goldman Sachs CEO Lloyd Blankfein, Morgan Stanley CEO John Mack, Citigroup CEO Vikram Pandit, and so on. A few Wall Street CEOs had been fired for their roles in the subprime mortgage catastrophe, but most remained in their jobs, and they, of all people, became important characters operating behind the closed doors, trying to figure out what to do next. With them were a handful of government officials - the same government officials who should have known a lot more about what Wall Street firms were doing, back when they were doing it. All shared a distinction: They had proven far less capable of grasping basic truths in the heart of the U.S. financial system than a one-eyed money manager with Asperger's syndrome. ~ Michael Lewis

If the government wants to do social policy, it should not be done in a quasi-public company. If you have a mortgage guarantee company which is done by the U.S. government, it should be guaranteed by the originators, i.e., the shareholder. ~ Jamie Dimon

What happened, man? Gerry and Ginsberg are cold, and dead, in the ground. Kesey's stoned, and out of town. We've come to the end of the brotherhood song. The children brandish knives upon each other's throats, and their loaded 45's sit snug in lunch boxes nestled safely between Oreo cookies and a ham sandwich. Where are you now, oh ancient hipsters? Raggedy Beats beat down and broken wheel raggedy wheelchairs down ghostly geriatric wards. Where are you now, oh day-glow dreamers? Have you gotten off the bus and into your Mercedes? Did you get that second mortgage, and bear your fattened little babies? Where is that girl with flowers in her hair? Where is the man with revolution in his veins? We ask ourselves "where did we go wrong?" But there is no we. There is you, and then there is I. You do what you need to survive, And I do what I must to stay alive. We stand here Bleeding, slicing each other's wrists With the icy ridges of hardened jagged hearts, Cassandra's ~ Bearl Brooks

We have not noticed how fast the rest has risen. Most of the industrialized world--and a good part of the nonindustrialized world as well--has better cell phone service than the United States. Broadband is faster and cheaper across the industrial world, from Canada to France to Japan, and the United States now stands sixteenth in the world in broadband penetration per capita. Americans are constantly told by their politicians that the only thing we have to learn from other countries' health care systems is to be thankful for ours. Most Americans ignore the fact that a third of the country's public schools are totally dysfunctional (because their children go to the other two-thirds). The American litigation system is now routinely referred to as a huge cost to doing business, but no one dares propose any reform of it. Our mortgage deduction for housing costs a staggering $80 billion a year, and we are told it is crucial to support home ownership, except that Margaret Thatcher eliminated it in Britain, and yet that country has the same rate of home ownership as the United States. We rarely look around and notice other options and alternatives, convinced that "we're number one. ~ Fareed Zakaria

Everyday I feel more and more like a full-fledged adult. Even though it was (metaphorically) only yesterday I was sloshing in the door at four a.m. after Dollar Beer Night, I find myself with a mortgage, four types of insurance, and a non-laundry-quarter-based retirement fund. ~ Jen Lancaster

Dreams are all very well but are not known to pay the mortgage. ~ Auliq Ice

The securitisation of mortgages added a new dimension of systemic risk. Financial engineers claimed they were reducing risks through geographic diversification: in fact they were increasing them by creating an agency problem. The agents were more interested in maximising fee income than in protecting the interests of bondholders. That is the verity that was ignored by regulators and market participants alike. ~ George Soros

I want to go further, because it was investment banks, it was insurance companies, it was mortgage companies, all of which contributed.So let's not just be narrowly focused on one part of the problem. We have a lot of issues with corporate power that have to be addressed. My plan takes us further and it would do the job. ~ Hillary Clinton

We had rarely seen our fathers in work boots before, toiling in the earth and wielding brand-new root clippers. They struggled with the fence, bent over like Marines hoisting the flag on Iwo Jima. It was the greatest show of common effort we could remember in our neighborhood, all those lawyers, doctors, and mortgage bankers locked arm in arm in the trench, with our mothers bringing out orange Kool-Aid, and for a moment our century was noble again. ~ Jeffrey Eugenides

In the subprime mortgage industry, bankers handed out iffy loans like candy at a parade because such loans meant revenue and, hence, bonuses for executives in the here-and-now. ~ Thomas Frank

We can't suddenly quit a job and then race to find a form of art that will pay off before the next mortgage payment is due. Creating art is a habit, one that we practice daily or hourly until we get good at it ... Art isn't about the rush of victory that comes from being picked. Nor does it involve compliance. Art in the post-industrial age is a lifelong habit, a stepwise process that incrementally allows us to create more art. ~ Seth

Owning your own home is America's unique recipe for avoiding revolution and promoting pseudo-equality at the same time. To keep citizens puttering in their yards instead of sputtering on the barricades, the government has gladly deprived itself of billions in tax revenues by letting home owners deduct mortgage interest payments. ~ Florence King

Of course you are. Then you're going to give me multiple orgasms and pay off my mortgage too. I saw this movie, pal. It was in the fantasy section. (Isa) ~ Jeaniene Frost

The vast majority of the American people are hard-working taxpayers who take responsibility for their families, go to work every day, they pay their mortgage on time, they volunteer in their community. ~ Marco Rubio

Never work for a company that says people are its most important asset. If you wanted to get a mortgage and you said that your only asset was people you would end up living in a tent. ~ Guy Browning

I was going to become a youth worker because I do voluntary work with the kids in the little village where I live. I make little films with them and stuff when I'm not working. I thought, I'll pack it in then, and go and do something I love doing, and get a regular job because I've got two kids and a mortgage. ~ Stephen Graham

I'm married. I have three children. I have a mortgage to pay. The plumbing breaks and the yard needs trimming. However, what my wife and children need most from me is my passion for them. ~ John Eldredge

Even tax breaks that are supposed to help the middle class too often skew toward the wealthy. Consider the mortgage interest deduction. While political leaders in both parties have long considered it untouchable, it actually helps those at the top of the income scale far more than those at the bottom. ~ Dee Dee Myers

When all our needs are met and all is well in our lives, we tend to take credit for what we have, to feel that we carry our own loads. We work hard to earn the money we need to buy food and clothes, pay our rent or mortgage. But even the hardest-working individual owes all he earns to God's provision. Moses reminded Israel that God "is giving you power to make wealth" (Deut. 8:18). ~ John F. MacArthur Jr.

University administrators are the equivalent of subprime mortgage brokers selling you a story that you should go into debt massively, that it's not a consumption decision, it's an investment decision. Actually, no, it's a bad consumption decision. Most colleges are four-year parties. ~ Peter Thiel

Today I say am an addict. A respectable addict, of course. Not like the desperate addicts who have cashed in their mortgage... After all, my drug is cheap, the cheapest of all drugs, and therefore the most pernicious... And my drug is everywhere I look: in the drive-through gas station's convenience store, in the supermarket, on the lusciously displayed menu of an exclusive restaurant. ~ Vera Tarman

There are two definitions of deflation. Most people think of it simply as prices going down. But debt deflation is what happens when people have to spend more and more of their income to carry the debts that they've run up - to pay their mortgage debt, to pay the credit card debt, to pay student loans. ~ Michael Hudson

If you pay off your mortgage before retirement, you take a huge financial load off your shoulders. You also become eligible to take out a reverse mortgage once you turn 62. ~ Suze Orman

Foreign policy is a little bit like a guy who goes to Las Vegas. If you win too much, then you eventually bet the mortgage. You start to think you are infallible. ~ Peter Beinart

The culture doesn't encourage you to think about such things until you're about to die. We're so wrapped up with egostical things, career, family, having enough money, meeting the mortgage, getting a new car, fixing the radiator when it breaks. We're involved in trillions of little acts just to keep going . So we don't get into the habit of standing back and looking at our lives and saying, Is this all? Is this all I want? Is something missing? ~ Morrie Schwartz.

I was raised on the struggle of elders - iron collars, severed feet, the rifle of dirty Harriet, and down through the years, the Muslims and regal Malcolm. But mostly what I saw around me was rank dishonor: cable and Atari plugged into every room, juvenile parenting, niggers sporting kicks with price tags that looked like mortgage bills. The Conscious among us knew the whole race was going down, that we'd freed ourselves from slavery and Jim Crow but not the great shackling of minds. The hoppers had no picture of the larger world. We thought all our battles were homegrown and personal, but, like an evil breeze at our back, we felt invisible hands at work, like someone else was still tugging at levers and pulling strings. ~ Ta-Nehisi Coates

The world is filled to suffocating. Man has placed his token on every stone. Every word, every image, is leased and mortgaged. We know that a picture is but a space in which a variety of images, none of them original, blend and clash. ~ Sherrie Levine

An aggressive building performance standard for all new buildings, and a set of performance requirements to be met by all buildings before they can be sold (when upgrades can be included in the new mortgage). These should encompass heating and cooling, lighting, and plug loads. Coupled with new efficiency standards for appliances, lights, and furnaces, this should reduce the energy consumption of new buildings by 50 percent, more or less immediately, and go on from there. ~ Denis Hayes

From the 1930s through the 1960s, black people across the country were largely cut out of the legitimate home-mortgage market through means both legal and extralegal. Chicago whites employed every measure, from 'restrictive covenants' to bombings, to keep their neighborhoods segregated. ~ Ta-Nehisi Coates

They [political leaders ] thought the only problem was the banking system, and if they fixed the banking system, all would be fine. But the banking system and the mortgage problem were symptomatic of some deeper problems, and evidently they still haven't recognized those deeper problems. ~ Joseph Stiglitz

How is that for some people drinking is a short-term loan on the spirit, but for others a heavy mortgage on the soul? ~ Sebastian Barry

As much as we wish God would transfer his focus to more external and circumstantial matters, such as restored health, mortgage payments, and career transitions, God is primarily interested in pulling off an inside job. God is certainly at work all around us, but his primary transforming work is aimed at our minds and hearts. ~ Ramon L. Presson

I'd love it if doors open for me in America. There are directors I'd love to work with there. I'll always do theater, but I've got to pay the mortgage. ~ Lesley Manville

Conscience is strong in women. Children are very violently taught that they owe all to their parents, and the parents are not slow in foreclosing the mortgage. But the home is not a debtor's prison - to girls any more than to boys. This enormous claim of parents calls for extermination. Do they in truth do all for their children; do their children owe all to them? Is nothing furnished in the way of safety, sanitation, education, by that larger home, the state? What could these parents do, alone, in never so pleasant a home, without the allied forces of society to maintain that home in peace and prosperity. These lingering vestiges of a patriarchal cult must be left behind. Ancestor-worship has had victims enough. Girls are human creatures as well as boys, and both have duties, imperative duties, quite outside the home. ~ Charlotte Perkins Gilman

Principles are nice things. If you can afford them. I like to think I am a principled man, but then, most men do. The fact is, we all have a price, we all have buttons that can press to make us do things that are not entirely honorable. Principles do not pay the mortgage or clear our debts. A principled man is generally a man who has everything he wants or absolutely nothing to lose. ~ C.J. Tudor

What our economy needs is direct job creation by the government and mortgage-debt relief for stressed consumers. What it very much does not need is a transfer of billions of dollars to corporations that have no intention of hiring anyone except more lobbyists. ~ Paul Krugman

The Germans made just about every bad investment you could have made. They invested in Icelandic banks. They invested in Greek government bonds. They were heavy into Irish banks, big into Irish banks, and they bought U.S. subprime mortgage bonds. ~ Michael Lewis

It was during my explanation to my young daughter that I finally realized why I had been drawn to this particular practice of law. Yes, some of my clients were just gaming the system. They were charlatans no better than the banks they were taking on. But some of mu clients were downtrodden and disadvantaged. They were true underdogs in society and I wanted to stand for them and keep them in their homes for as long as I possibly could. ~ Michael Connelly

Some people save the boxes for electrical appliances because they think they can get more money for the appliances if they ever sell them. This, however, is a waste. If you consider the rent or mortgage you pay, turning your space into a storage shed for empty boxes costs you more than what you could earn selling an appliance in a box. You don't need to keep them for moving either. You can worry about finding suitable boxes when the time comes. It's a shame to let a boring box take up room in your house just because you might need it someday. ~ Marie Kondo

You know, honey, Natalie's expecting her second."
I arched my eyebrows at my mother, not following the change of subject. "Second what? Mortgage? Conviction? Chance at life?"
"Baby of course. Her second baby. The doctor says this one's a girl."
I laughed, genuinely amused that my mother thought it should have been so obvious. "Yeah. Well, I bet Natalie can't drop a Stray with a Powerhouse Right Hook. ~ Rachel Vincent

Then it was June and I started to feel like a new woman---not in a new-lease-on-life kind of way, more like a refinanced mortgage. ~ Catherine Lacey

Many politicians and pundits claim that the credit crunch and high mortgage foreclosure rate is an example of market failure and want government to step in to bail out creditors and borrowers at the expense of taxpayers who prudently managed their affairs. These financial problems are not market failures but government failure ... The credit crunch and foreclosure problems are failures of government policy. ~ Walter E. Williams

How happily we explored our shiny new world! We lived like characters from the great books I curled up with in the big Draylon armchair. Like Jack Kerouak, like Gatsby, we created ourselves as we went along, a raggle-taggle of gypsies in old army overcoats and bell-bottoms, straggling through the fields that surrounded our granite farmhouse in search of firewood, which we dragged home and stacked in the living room. Ignorant and innocent, we acted as if the world belonged to us, as though we would ever have taken the time to hang the regency wallpaper we damaged so casually with half-rotten firewood, or would have known how to hang it straight, or smooth the seams. We broke logs against the massive tiled hearth and piled them against the sooty fire back, like the logs were tradition and we were burning it, like chimney fires could never happen, like the house didn't really belong to the poor divorcee who paid the rates and mortgage even as we sat around the flames like hunter gatherers, smoking Lebanese gold, chanting and playing the drums, dancing to the tortured music of Luke's guitar. Impelled by the rhythm, fortified by poorly digested scraps of Lao Tzu, we got up to dance, regardless of the coffee we knocked over onto the shag carpet. We sopped it up carelessly, or let it sit there as it would; later was time enough. We were committed to the moment.




Everything was easy and beautiful if you looked at it right. If someone was angry, we walked d ~ Claire Robson

The farmer after sacrificing pleasure, taste, freedom, thought, love, to his work, turns out often a bankrupt, like the merchant.This result might well seem astounding. All this drudgery, from cockcrowing to starlight, for all these years, to end in mortgages and the auctioneer's flag, and removing from bad to worse. It is time to have the thing looked into, and with a sifting criticism ascertained who is the fool. ~ Ralph Waldo Emerson

We're so wrapped up with egotistical things, career, family, having enough money, meeting the mortgage, getting a new car, fixing the radiator when it breaks - we're involved in trillions of little acts just to keep going. So we don't get into the habit of standing back and looking at our lives and saying, Is this all? Is this all I want? Is something missing? He ~ Mitch Albom

All you need do is refrain from smoking, drinking and the use of drugs. Eat only wholesome,low-fat foods, with the emphasis on vegetables, grains and fish. Seek work. Work hard. Show up on time. Do more than is expected. Think of ways to make the job efficient. Don't complain. Shave, bathe and wear clean clothes. Be cheerful. Don't gamble. Live within your means. Save. And then, when you have all this in balance, study things of substance. Read to satisfy your curiosity. Don't father children out of wedlock or bear them as a single mother. Exercise. You will find that you will be promoted - perhaps not knighted, but promoted. Is that doesn't happen, look quietly for a better position. Find a husband or a wife whom you love and who has the same good habits. Invest. Assume a mortgage if you must. Teach your children the virtues. And then, having become the means of production, you will own your share of the means of production, and if you do those things, all of which are within your power, you will live your own lives."

They looked at him as if he were an armadillo that has just spoken to them in Chinese. Not having assimilated a single phrase, they all got up and went to the bus. ~ Mark Helprin

Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like. ~ Martin Feldstein

If you followed this economic crisis and you do not think that the world is getting flatter, you are not paying attention. We saw the entire global economy at one time acting totally in sync. The real truth is the world is even flatter than I thought. Our mortgage crisis is killing Deutsche Bank. You still don't think the world is flat? ~ Thomas Friedman

Incredibly, at this critical juncture in financial history, after which so much changed so quickly, the only constraint in the subprime mortgage market was a shortage of people willing to bet against it. ~ Michael Lewis

Light is one of the most important factors in photography. ~ Laura Gilpin

For too long, tricks and traps in mortgages, credit cards, and other financial transactions have stripped wealth from working families. ~ Jeff Merkley

If you're not yet wealthy but want to be someday, never purchase a home that requires a mortgage that is more than twice your household's total annual realized income. ~ Thomas J. Stanley

You see? That's the point. It's all a big guess. They hope, they pray, they cook and garden and get a better job to pay the mortgage and read dirty books to keep bedtime interesting, but they don't know. There are no guarantees. Sometimes you just stop loving someone. You just stop. ~ Tania Kindersley

She should be snugly tucked into a bed somewhere in a house with a shrinking mortgage, a teddy bear crooked under one arm, ready to go back to school the next morning and do battle for God, country, and second grade. ~ Stephen King

People find themselves in ruts all the time. You're in a complacent lifestyle where you work 9 to 5 and then you add a mortgage and kids. You feel trapped, but guess what, brother? You constructed that life. If you're OK with it, there's nothing wrong with that. But if you've got unease, then you've got to make a change. ~ Jeremy Renner

If you are stuck in circumstances in which it takes Herculean efforts to get through the day - doing low-income work, obeying an authoritarian boss, buying clothes for the children, dealing with school issues, paying the rent or mortgage, fixing the car, negotiating with a spouse, paying taxes, and caring for older parents - it is not easy to pay close attention to larger political issues. Indeed you may wish that these issues would take care of themselves. It is not a huge jump from such a wish to become attracted to a public philosophy, spouted regularly at your job and on the media, that economic life would regulate itself automatically if only the state did not repeatedly intervene in it in clumsy ways. Now underfunded practices such as the license bureau, state welfare, public health insurance, public schools, public retirement plans, and the like begin to appear as awkward, bureaucratic organizations that could be replaced or eliminated if only the rational market were allowed to take care of things impersonally and quietly, as it were. Certainly such bureaucracies are indeed often clumsy. But more people are now attracted to compare that clumsiness to the myth of how an impersonal market would perform if it took on even more assignments and if state regulation of it were reduced even further. So a lot of "independents" and "moderates" may become predisposed to the myth of the rational market in part because the pressures of daily life encourage them to seek comfort i ~ William E. Connolly

No one pushed harder than Congressman Barney Frank to force banks and other financial institutions to reduce their mortgage lending standards, in order to meet government-set goals for more home ownership. Those lower mortgage lending standards are at the heart of the increased riskiness of the mortgage market and of the collapse of Wall Street securities based on those risky mortgages. ~ Thomas Sowell

My dad is the first to say that Mum deals with the mortgage payments, the bills, the rota, things like that, while my dad is the emotional one who keeps the home together. He's the nurturer, but together, they work perfectly. ~ Cush Jumbo

In a sense, the farmer was the looniest speculator in a nation overrun with them. He was wagering he would master this fathomlessly intricate global game, pay off his many debts, and come out with enough extra to play another round. On top of that, he was betting on the kindness of Mother Nature, always supremely risky. But the farmer had no choice if he hoped to sustain himself and a way of life, the family farm. Instead, he was drawn into a kind of social suicide. The family farm and the whole network of small-town life that it patronized were being washed away into the rivers of capital and credit that flowed toward the railroads, banks, and commodity exchanges, toward the granaries, wholesalers, and numerous other intermediaries that stood between the farmer and the world market. Disappearing into all the reservoirs of capital accumulation, the family farm increasingly remained a privileged way of life only in sentimental memory.

Perversely the dynamic Lincoln had described as the pathway out of dependency - spending a few years earning wages, saving up, buying a competency, and finally hiring others - now operated in reverse. Starting out as independent farmers, families then slipped inexorably downward, first mortgaging the homestead, then failing under intense pressure to support that mortgage (they called themselves "mortgage slaves") and falling into tenancy - or into sharecropping if in the South - and finally ending where Lincoln's story began, as dispos ~ Steve Fraser

. . . the farmer is the man
The Farmer is the man

Lives on credit till the fall
With the interest rates so high
It's a wonder he don't die
And the mortgage man's the one
that gets it all.

The farmer is the man
The farmer is the man
Lives on credit till the fall
And his pants are wearing thin
His condition it's a sin
He's forgot that he's the man
that feeds them all. ~ Howard Zinn

My opinion is that we must lend ourselves to others and give ourselves only to ourselves. If my will happened to be prone to mortgage and attach itself, I would not last: I am too tender, both by nature and by practice. ~ Michel De Montaigne

If you can't afford the upkeep of your home, it makes no sense to do a reverse mortgage. You will just end up having to sell eventually when you realize you can't afford the home, and whether you have any equity left after the sale depends on the size of the reverse loan that must be settled. ~ Suze Orman

The moment you have children and a mortgage you want things to work; you're locked into the human project and you want it to flourish. ~ Ian McEwan

To the eye it is fair enough, here; but seen in its integrity, under the sky, and by the daylight, it is a crumbling tower of waste, mismanagement, extortion, debt, mortgage, oppression, hunger, nakedness, and suffering. ~ Charles Dickens

The aim of promoting low down payments is to push prices back up so that fewer houses are going to be in negative equity and fewer people are going to walk away from the mortgages. That will save the from taking a loss on their junk mortgage loans. ~ Michael Hudson

default swaps on subprime mortgage bonds. Only a triple-A-rated corporation could assume such risk, no money down, and no questions asked. Burry was right about this, too, but it would be three years before he knew it. The party on the other side of his bet against subprime mortgage bonds was the triple-A-rated insurance company AIG - American International Group, Inc. Or, rather, a unit of AIG called AIG FP. AIG Financial Products was created ~ Michael Lewis