Comments on: Is Common Sense Returning to Consumer Lending? http://toughmoneylove.com/2009/06/16/is-common-sense-returning-to-consumer-lending/ The Hard Truth about Money and Personal Finance Tue, 31 Jan 2012 13:37:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Mr. ToughMoneyLove http://toughmoneylove.com/2009/06/16/is-common-sense-returning-to-consumer-lending/comment-page-1/#comment-4783 Mr. ToughMoneyLove Wed, 17 Jun 2009 18:44:45 +0000 http://toughmoneylove.com/?p=3968#comment-4783 TIE: I am sorry to hear that a credit score ad is displaying on my site. I'm going to see if I can get rid of it. Thanks for calling it to my attention. TIE: I am sorry to hear that a credit score ad is displaying on my site. I’m going to see if I can get rid of it. Thanks for calling it to my attention.

]]> By: The Incidental Economist http://toughmoneylove.com/2009/06/16/is-common-sense-returning-to-consumer-lending/comment-page-1/#comment-4782 The Incidental Economist Wed, 17 Jun 2009 17:06:22 +0000 http://toughmoneylove.com/?p=3968#comment-4782 I was amused to see that FreeCreditScore2009.com is one of the sponsored links on this site (delivered via Google). I'm not implying anything. It's just ironic. I was amused to see that FreeCreditScore2009.com is one of the sponsored links on this site (delivered via Google). I’m not implying anything. It’s just ironic.

]]> By: TFB http://toughmoneylove.com/2009/06/16/is-common-sense-returning-to-consumer-lending/comment-page-1/#comment-4777 TFB Wed, 17 Jun 2009 04:33:55 +0000 http://toughmoneylove.com/?p=3968#comment-4777 I actually agree with you. Perhaps I'm not good at it. The title of the post was meant to be tongue-in-cheek. Toward the end of the post I said the way Wells Fargo did it was the right way. All loan applications should be evaluated by a real person taking into consideration income and debt capacity. I actually agree with you. Perhaps I’m not good at it. The title of the post was meant to be tongue-in-cheek. Toward the end of the post I said the way Wells Fargo did it was the right way. All loan applications should be evaluated by a real person taking into consideration income and debt capacity.

]]> By: RC Brooks http://toughmoneylove.com/2009/06/16/is-common-sense-returning-to-consumer-lending/comment-page-1/#comment-4773 RC Brooks Tue, 16 Jun 2009 18:22:24 +0000 http://toughmoneylove.com/?p=3968#comment-4773 It's good to see a little progress on this end. However, I think much more needs to be done. I pay for most everything in cash (vehicles included). However, I recently looked into buying some property and needed financing for about two thirds of it. I was unable to secure the extra funds through my local bank (that I have banked through for over two decades) even though they were fully aware of my income and my good history. No, because I have not played the credit game I was unable to borrow the needed money (at least the amount I needed and what they were willing to lend was astronomically high.) In the end I marshaled more of my reserves and went in together with a relative to purchase the land. To think all of that money being pulled out of the economy to feed those fools. It's enough to make me see red. It’s good to see a little progress on this end. However, I think much more needs to be done. I pay for most everything in cash (vehicles included). However, I recently looked into buying some property and needed financing for about two thirds of it. I was unable to secure the extra funds through my local bank (that I have banked through for over two decades) even though they were fully aware of my income and my good history. No, because I have not played the credit game I was unable to borrow the needed money (at least the amount I needed and what they were willing to lend was astronomically high.) In the end I marshaled more of my reserves and went in together with a relative to purchase the land.

To think all of that money being pulled out of the economy to feed those fools. It’s enough to make me see red.

]]> By: Mr. ToughMoneyLove http://toughmoneylove.com/2009/06/16/is-common-sense-returning-to-consumer-lending/comment-page-1/#comment-4768 Mr. ToughMoneyLove Tue, 16 Jun 2009 13:58:20 +0000 http://toughmoneylove.com/?p=3968#comment-4768 My Journey: Thanks for your concurring views on this. Only a few million more like you and we may see some progress! My Journey: Thanks for your concurring views on this. Only a few million more like you and we may see some progress!

]]> By: My Journey http://toughmoneylove.com/2009/06/16/is-common-sense-returning-to-consumer-lending/comment-page-1/#comment-4767 My Journey Tue, 16 Jun 2009 13:45:35 +0000 http://toughmoneylove.com/?p=3968#comment-4767 While I often disagree with your disregard of credit scores - mainly because of the real life application. I agree with you 100% with your assesment of this particular situation; DTI ration is not even factored with score and that should be one of the most important aspects of a loan. While I often disagree with your disregard of credit scores – mainly because of the real life application. I agree with you 100% with your assesment of this particular situation; DTI ration is not even factored with score and that should be one of the most important aspects of a loan.

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