Re: Is The Face Of Tomorrow's Economy?

On Wed, 30 Jan 2008 21:30:37 -0800, Too_Many_Tools wrote:

Apparently more and more people are just walking away from their mortgages
leaving lenders holding the bag.

http://www.youwalkaway.com/

As one person said, the borrower made one mistake taking on too large of a
mortgage while the lender loaned thousands and thousands of loans to
people it knew would not be able to handle the financial burden.

So in their opinion, the lenders deserve what they will get.

Of course these lenders defaulting will affect all of us...as they already
have.

Your opinion?

Ultimately it will be the Taxpayer left holding the bag through federally
insured loans. A small article on news.yahoo.com today told that the FBI
is looking into fraudulant loans but the gate was left open and the
horses already got out.

The mortgage profits have already been spent, squandered, and laundered.
Even if the FBI prosecutes a few the damage has been done.

-- Regards, Curly
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Osama didn't win, Bush lost. Strike that,
Osama didn't win, _we_ lost.
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