A Quote by Henry Paulson
In the past, if a homeowner with a mortgage had a problem making the payment, often he'd get together with a lender and strike a deal, because foreclosures are very expensive to the lender and obviously not good for the homeowner and the community.
Related Quotes
I can't think of another enterprise other than being a homeowner that can't have its debt restructured in bankruptcy. Corporations can but a homeowner can't? Now with securitization the homeowner can't go to the owner of the loan and work things out.
In a forbearance, the homeowner pays interest and principal on a smaller mortgage, at least for a time, but still owes the full amount. The lower monthly payment helps with affordability, giving stressed homeowners a break.
Historically, in India, the strange fact was that the equity owner was not taking as much hit as the lender. Therefore, if we restore the first principle of economics, that first the equity owner needs to take the hit and then the lender, we will get a good solution.
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.
I've fixed the toilet. And I've been crawling in claustrophobic places... you have to deal with that when you become a homeowner.
I think that every homeowner has a fascination with real estate. You can't deny that it's such a huge player in our finances. It's probably the most expensive thing you'll ever purchase, so you're forced to pay attention.
Home purchases that are very highly leveraged or unaffordable subject the borrower and lender to a great deal of risk. Moreover, even in a strong economy, unforeseen life events and risks in local real estate markets make highly leveraged borrowers vulnerable.
Caterpillar was quite important because that was the first manufacturing industry that used Reaganite strike-breaking techniques. They illegally called in scabs to break a major strike. It was reported pretty well in the Chicago Tribune, who pointed out something very interesting. They said that the workers got very little support in Peoria when scabs illegally broke the strike, and that was particularly striking because that whole community had been built up by the union - it was a union-based community.
Good nature is the cheapest commodity in the world, and love is the only thing that will pay ten percent, to borrower and lender both.
Good nature is the cheapest commodity in the world, and love is the only thing that will pay ten percent to both borrower and lender.
Neither a borrower nor a lender be.
It is better to be a lender than a spender.
I buck the trend: I eat avocados on a Sunday morning and I'm a homeowner.
The borrower is a slave to the lender and the debtor to the creditor.
You can be a lender who wants to compete and have a better product, but you just can't get to the students. The schools are controlling the access to the students.
The premise of insurance is to spread the risk. It's the premise of homeowner's insurance, of car insurance, and of health insurance. It's one reason why it's important to have insurance when you're healthy, so that when you get sick, you won't go sign up just when you get sick, because that increases the cost for everyone.
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