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Triaxx identifies these loans by analyzing 50 property sales in the same vicinity during the same period that the original mortgage was given.
734, it was held that the authorization of a judge to a married woman to borrow money, and execute a mortgage to secure its repayment, does not preclude her from proving that, with the knowledge of the creditor the mortgage was given to secure an antecedent debt of the husband due to him.
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Mrs. Gerodias filed an opposition thereto, on the ground, among others, that her note and mortgage were given for the purpose of securing the debt of the husband to Claverie.
She alleged by way of defense that the note and mortgage were obtained from her through the influence of her husband, who received the money for which the note and mortgage were given, and that, therefore, as to her they were without consideration.
Often, subprime mortgages were given to people with credit problems.
"Mortgages were given to people without verifying employment a year ago," Ms. Leskin said.
Even at the end of 2007, well after the credit crunch had begun, just under half of all mortgages were given without any proof being demanded of the borrower's income.
Homeowners struggling to pay their mortgages were given a reprieve by Gordon Brown yesterday when he unveiled a plan to let people affected by the economic downturn take a two-year mortgage interest payment holiday.
The British Bankers Associationn said a total of 195,242 mortgages were given the go-ahead during June - five per cent higher than in May but still 17percentnt weaker than the previous year's levels.
Wells Fargo has also started a program under which borrowers struggling with mortgages are given less costly loan terms for a trial period, to help determine their long-term ability to pay.
The falling prices mean that it is a good time to buy, but with banks now acting as both lenders and estate agents, there are very few mortgages being given to Spanish citizens or foreign buyers.
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