Matt Taibbi Quotes

We borrowed money, it helped us with bonds and what not, and the Federal Government backed it, but it was a guarantee, it was not a grant. And we not only paid it off, but we paid it off ahead of time.

Debt is a mistake between lender and borrower, and both should suffer.

Yes, Americans can still get credit for cars and trucks and refrigerators, and those businesses are doing well. But just try to get a home loan now.

The interesting thing about debt in most cases is that you have to pay it back. So if you build an overhang of debt, it becomes more and more limiting in terms of the prospect that you have.

Every loan that we did in the City of Detroit in the 10 years they studied - between 2005 and 2014 - were conventional FHA, VA loans with average interest rates of 6%.

If you are a borrower, the more you borrow, the more it costs.

The most troubling loan we had was actually to the 'Octomom'. That was a terrible situation, and we worked very, very hard to move her to another home that they could afford.

Some people, they got housing loans, and I think they're responsible for taking a loan they didn't qualify for?

If you have a lot of short-term debt, it means that all of that money can be demanded in a very short period of time. Technically, short-term debt means money that's coming due within a year. Typically, it means money that's coming due within 30 to 90 days.

Indeed, the FHA was born out of the Great Depression, which was also caused in significant part by a foreclosure crisis. Mortgages in the early 1930s were mostly three- to five-year 'bullet' loans, which did not amortize and were due in full at maturity.

Sometimes you have to disconnect to stay connected. Remember the old days when you had eye contact during a conversation? When everyone wasn't looking down at a device in their hands? We've become so focused on that tiny screen that we forget the big picture, the people right in front of us.

My father lost his business. Our house was locked up, and we had to leave.

Credit is a system whereby a person who can not pay gets another person who can not pay to guarantee that he can pay.

If I had high-ticker 10 percent financing, which would probably be the market rate, I would have to dump stuff. The interest payments would be killing me.

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.

I'm short-selling my house. I have more loans than I can sell the house for. The house will not go into foreclosure. It will be a short sale. I can't afford the house as I once could.

I invested all my money in debt.

The decline in home equity makes it more difficult for struggling homeowners to refinance and reduces the financial incentive of stressed borrowers to remain in their homes.

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.

Prolonged unemployment is a tragedy of broken lives, broken families, foreclosed homes, and life without health insurance.

I rescue families who are losing their homes because they have no jobs and they can't pay the mortgage and the banks are foreclosing on their homes.

Borrowed money, even when owing to a nation by another nation, should be repaid. They hired the money, didn't they? Let them pay it.

Subprime mortgages, typically defined as those issued to borrowers with low credit scores, make up roughly the riskiest one-third of all mortgages.

I know what it's like to have a house repossessed... I've been there.

I fully believe that the U.S. has the obligation to honor its debt.