What is 'suboccupies first place'? Credits suboccupy first place and mortgages suboccupy first place
After much to hear to speak about the crisis of suboccupies first place, we are going to begin for telling what sound in fact should subgive priority to the credits.
First it is necessary to answer the question: what is suboccupies first place? "Suboccupy first place" it is an English term that it means something like “below the ideal thing” and that comes from the E.E.U.U, where to this type of credits also they are met like credits B-paper, near - occupies first place or second chance. There are a type of loan that is characterized for being less demanding with the solvency or the aptitude to return the payments that there have the persons those who are directed, in fact the term suboccupies first place it qualifies this solvency as “below the ideal one”. The credits suboccupy first place they include a variety of credit instruments that include the mortgages suboccupy first place, the car loans suboccupy first place or the credit cards suboccupy first place, between others, auque the most common are the called mortgages suboccupy first place.
By means of the mortgages suboccupy first place, the persons with difficulty to obtain a credit in the banks or savings banks come to other credit institutions, or to certain banks that were admitting them in the United States, and, in spite of not having guarantees, by means of other properties, or personal guarantees of anybody who answers in case of non-payment, they can gain access to a loan.
The mortgages suboccupy first place they usually have an interest rate of up to 5 % or more on the habitual interest rate on the market for the mortgage loans, trying to cover this way the non-payment risk. In the beginning, they are very beneficial for both parts: the credit system and the individual, because they allow to gain access to a housing to more persons, and in turn to generate more wealth. The problem comes when the guys do not accompany, rise and rise again and the slowness appears like top of an iceberg, because also we remember that guarantees do not exist, that's why Bernanke (the president of the American Federal Reservation) worried so and he repeats his worry for the slowness.
At present, the consensus between the journalists and the financial analysts is to use less the expression sub-occupy first place and to change it for “loans odd number gives priority” that means the same (already it has been demonstrated that it is not that they have low solvency, is that they have her void) but without to give inferiority image ("sub") or of defective to those who have requested it. Now it is going to be a name question …
at 4:47 pm
SPANISH VARIANTS TO
MORTGAGES SUBOCCUPY FIRST PLACE, NINJA OR GARBAGE.
Rafael del Barco Carreras
Repeating and summing up. Chorused up to the satiety when they are discovered or denounce in the USA, year 2007, and even much brought in in 2008, “In Spain they do not exist”. To see Internet in the mortgages tags suboccupies first place, ninja or garbage. The negrito of Ilinois who buys the ruin where he lives for the double of what it costs signing a mortgage to infinite years, and with these mortgages “banks and funds” they receive money. Reaction in Spain, all, Presses and TV, loudly … “In Spain there are no mortgages suboccupy first place” or that thing about “The Spanish Bank System is most controlled and solvent of the World”. In Internet the first dissident voices were appearing. Some doubting the official and semiofficial propaganda, and others affirming without palliative. They were … and infinite. Big part of the 4.000.000 of produced housings, being constructed or in project from 2002, in more or less, they would be catalogued in one of the variants.
Spanish variants to the angelical mortgage of the negrito of Ilinois:
The first variant. One of 2007. 300.000 million old pesetas! “You buy to me for 1.600 million euros what costs 700 according to my assessors, any certificate, the banks will give the money, later we extend capital, because with your 7 million officials we do not go nowhere, revalue your assets, estimated and certified again, and throw ourselves to Stock Exchange”. “And porqué will the banks and boxes put more money than it costs what you sell to me?”. The question is of filling because the buyer avezado and ancient real estate he knows in advance the porqué of the banks. I distribute in black. “And if the Stock Exchange does not throw itself?”. “It will not happen, the bag rises every day and everything swallows it, the banks will take charge already, but if it was happening, how everything is mortgaged, since they swallow it”. “Brilliant“. “Of the enlargement I remain 20 %”.“ That increases my part in black”. More than billion euros supposedly distributed between buying HABITAT, RAILROAD seller, and the executives of the FINANCIAL BACKER “BANKS AND BOXES”. Not beyond six natural persons in the share-out, because real estate agencies and banks will take into account the official papers, and even will pay taxes and enormous legal costs, a big pinch, but that pulling for the low thing will allow “neckline“ more than 10.000 million ancient pesetas. Immense fortune for any citizen, although for a very limited grupito, pure change.
The second variant.“ You contribute your building in the Walk of Grace along 100 million euros that I pay to you with actions of the next enlargement and on the following day you can sell them in Stock Exchange, to how they quote, turn, but as the alone building costs 30 we have to distribute in black to the financiers not less than 50, because finally they are those who finance that the actions with credits guaranteed by the proper actions quote high”. Assumption MARTINSA FADESA. Between the first and second assumption dig infinity of variants with mergers, OPAS, and money with role guarantee garbage. Colonial real estate agency, Riofisa, etc.etc. In the case Martinsa the judicial inspectors have already discovered countable aberrations (revalued areas 1000 %) and advise the fraudulent failure to impede to the managers his personal patrimony, and in Habitat the harmed ones request the feedback of the fraudulent blow with a ball. And how is carried back the dirty money apologized to invoices and false costs?
Third variant. “You buy to me the place for 200.000 euros, a caixa will grant mortgaging 300.000 so that you decorate it, and you already have your shop in march”. “But this place is expensive”. “For you it is a golden opportunity, the place rises of price every year”. “And if he could not pay … that it remains this caixa …”.
The fourth variant. “With his payroll you will pay a month approximately 1.000 euros”. “But the fact is that I need a money to furnish and the wedding”. “Very well, we will see if they extend the mortgage to us and you will pay 1.200 a month, but our commission will be 5 % instead of 3 %”.
It conscripts. “You bring to us a payroll … and have apartment”.
Sixth. “I give you 300 euros if you sign in the notary a few roles to me”. The agents and sellers, already dismissed, of Don Piso and Farms Corral count and do not finish …
The remaining variants for the year 2000 from now on, when the bubble was swelling up 20 % or 30 % per year and the apartments were not selling (all that more unsaleable offer more they were raising the apartments) there are infinite … false payroll … false ID card … mortgage evaluations properly appraised to will of the parts … buyings and sellings of entire buildings or “bundles of housings” between "instrumental" societies … credits and certifications of work, garbage … but the construction was producing housings to such rapidity that not even forging and defrauding were giving supply, and there remain 1.000.000 of housings of ludicrous price, any more it is not even known of “badly sold” and “the second hand” … finishing with the saving of the whole country and the maximum collected with infinite financial formulae in the international markets.
And before the notary: “, given that we register?” of the whole life throwing the casualty … with the council of the proper notary, given that “it would happen in Treasury Department” … now one climbs to especially possibly, firstly for fiscal tax reliefs in the period of the mortgage, and very principal because to the more it promotes the nominal amount registered the more it will be achieved in "qualifications" paid by the BCE, or who finally has financed so much GARBAGE: and that will demand to receive 100 for 100 more interests and expenses!
at 12:16 pm
This happened already earlier and in more than one occasion. Rcordemos the bonds garbage “the one who buys bonds garbage does not buy bonds, buys garbage” someone said and it was true.
And it will happen again if hand does not get to the principal actors of this one it defrauds to world scale.