Re: Re: Eurozone Dominoes Falling!



Apparently Bankia is still offering a 40 year mortgage with zero deposit on some properties that they are finding really hard to move.The amount of interest that an owner has to pay will be staggering.This reckless lending is what got the world into this housing mess in the first place. In Canada where the banks are in a sound financial state, the maximum mortgage is a 25 year term with a 10% downpayment. To think that the taxpayer is having to bail out these bankers who still are allowed to make such irresponsible loans shows the poor quality of the Spanish financial administrators.