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Originally posted by anxietydisorder
It serves them right.
If you take out a loan you can't possibly repay, or you fail to read the fine print, then you lose your home.
Sure, the financial institutions offered loans in a way that made them look very attractive while markets were rising, but they didn't forge your signature on the papers.
If you can't pay you're out.
Go live in a tent if you're that stupid or rent an apartment, because you deserve it.
Originally posted by 44soulslayer
But why are you using such harsh words towards people who have just lost their homes? Show a little compassion eh buddy?
Originally posted by LLoyd45
The sad part is most Americans are that ignorant. I didn't say stupid, as there's a big difference between the two. They were simply taken in by the banks and mortgage companies stand line of BS. Most people have no idea of what a variable rate or a balloon payment is.
Try not to be so smug, most people are less than two paychecks away from being in the same condition.
It serves them right.
Originally posted by sy.gunson
I also agree that the US economy is headed for the Third World at warp speed.
Use the ballot box before it's too late.
Originally posted by sy.gunson
That was a bit harsh my friend. I would tend to point a finger at those who extended credit to people whom they knew couldn't possibly pay.
Originally posted by sy.gunson
I would tend to point a finger at those who extended credit to people whom they knew couldn't possibly pay.
Originally posted by chromatico
reply to post by jitombe
I'm sorry, I forgot that poor people were knuckle-dragging morons who couldn't figure anything out for themselves.
Originally posted by nyarlathotep
Originally posted by sy.gunson
I would tend to point a finger at those who extended credit to people whom they knew couldn't possibly pay.
Absolutely. It's all about the origination fee. They don't care if the loan is ever repaid. Their fees are collected when the loan funds.
Originally posted by rcwj75
But NOONE is forcing anyone to buy a home. They could rent and avoid the fees and morgage until they understand the real estate biz more and KNOW they have the income to afford whatever they then choose. I just can't see putting the blame on greedy banks when no bank is forcing you to buy.