Re: OT: Poll Question

On Mar 18, 12:25 pm, Mrs. Dud <Mrs...@xxxxxxxxxxxxxxxxxxxxxxx> wrote:
On Wed, 18 Mar 2009 10:05:07 -0700 (PDT), "mrd...@xxxxxxxxxxxxxxxxxxxxx" <foster...@xxxxxxxxx> wrote:
You are making the largest purchase in your life and you don't ask
what your payments will be?????

Bear in mind much of this is based on fraud.   Too many cases are
like the world war 2 veteran who is about to loose his house
to foreclosure.   The kicker in this case.....he never signed anything
but the lending instition is foreclosing on his house anyways......

Let me guess, these "predatory" lenders met them in a back alley and
ordered them to sign the contracts at the point of a gun???

see the above.

The US government ORDERED companies to make a certain percentage of
home loans to low income people that the lenders KNEW could not
afford!!!

And these low income loans have a better pay back rate than many other
loans.

A first time home buyer is told by an authority figure (lender) that
they can afford more of a house payment then they thought they could
originally. No, they didn't put a gun to their head, they deceived
some of them. I'm not saying the lenders are the only ones at fault.
Our society for years has been borrowing w/ no idea how to pay it back
or not paying it back at all. You don't think that mentality had
anything to do with this mess? Hell look to the last administrations
borrowing w/o any concern on who will pay for it in the future.

Again, there's as much blame to go around as there are reasons for the
collapse. To polarize the blame on one side of the aisle or the other
or to exclusively blame the borrowers or the lenders is ignorant on
many levels.
.

Relevant Pages

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