Why can people get loans that are in debt deep?

existingtobe asked:


My mom is in debt deep and takes out loans all the time to either pay the mortgage or pay off another debt. Why do loan companies allow this, except for the fact that they don’t care?

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Tags: Debt Loan, Loan Companies, Mom

This entry was posted on Sunday, May 10th, 2009 at 1:48 am and is filed under Credit. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Why can people get loans that are in debt deep?”

1. Chad Says:
   May 14th, 2009 at 4:43 pm

   Homeowners typically qualify for loans that non-homeowners don’t. You could both have the exact same crappy FICO score but if she owns a home and you don’t, then she’ll qualify for a lot more than you do.

2. Crazy~C Says:
   May 17th, 2009 at 8:03 pm

   well the thing is they are making a lot of money off of the little bit that they loaned you

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