Your English writing platform
Discover LudwigExact(11)
In January it issued new rules to clarify when a borrower might reasonably be considered capable of repaying a mortgage.
There are plenty of small and medium-size businesses that are choking because they have no access to capital — and are perfectly capable of repaying the money.
As part of the due diligence that is legally required to sell investment-grade securities, Citi asked specialized research firms to sample some of the loans it had bought from fast-growing mortgage issuers such as Ameriquest, Countrywide Financial, and New Century, and make sure that the folks who had taken out the loans were capable of repaying them.
Contrary to what some might think, having few cards or loans can adversely affect your credit score, because you need to have a credit history – the argument being that lenders are looking for signs that you are capable of repaying money you have borrowed.
It also stressed that loans should only be made to people who were capable of repaying the money.
The bottom line is that far too many Americans, not simply those with low credit scores, have borrowed more money than they are realistically capable of repaying.
Similar(49)
"It's a small way of repaying them hopefully.
What matters is the cash cost of repaying the loan.
This earning capacity makes them capable to repay the loan.
But the world is not just the G8, and developments outside the most advanced group may come to the rescue of us all.At root, the subprime crisis originated in the United States from excess credit extended against insufficient security to those least capable of servicing, let alone repaying, the loans.
"We have always said that students and their families aren't walking calculators capable of working out how much they are likely to repay based on hypothetical future earnings.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com