posted on Oct, 7 2012 @ 01:23 PM
reply to post by scoobdude
reply to post by odd1out
I can't help but look at it like this.
Nobody put a gun to the head of the people who purchased their homes they did it voluntarily.
If by tricked you mean people didn't bother to take the time to research and understand what they were signing then sure, I guess you can call it
tricked, I call it irresponsible.
I have lived in an apartment my whole life because I cannot afford to purchase a home and I am smart enough to know that. Nobody tricked me into an
apartment and nobody tricked me into a home. Every day of my life I have made the conscious decision to live where I am.
I looked into it around 2006 and when the Realtor were trying to sell me into a home I obviously could not afford I balked. The Realtor didn't
understand, "Everyone can get into a home" he said.
He did not just offer me a loan but a loan for plus 5% of the home I was purchasing so I could cover all the fees and costs without having to have
money in my pocket and money to buy furniture and junk for my new home, and this is with zero money down. Again I said WTF, how is that right, and he
explained "Everyone is doing it".
I had the common sense to not take a loan for 105% a homes value so I could get into an overpriced home that I could not afford.
Those people were not tricked they were poor customers who willingly signed the paperwork and took out a loan on a home they could not afford.
Saying they were tricked just seems like a nice way to say they are stupid and did not have the ability to make intelligent financial decisions.
Now things people have said about Banks behavior with loans and mortgages after the purchase of the home has nothing to do with my comment.Yeah, the
banks suck and did #ty things but that is a separate issue entirely because it happened after the home was bought.
edit on 7-10-2012 by
sdocpublishing because: (no reason given)
edit on 7-10-2012 by sdocpublishing because: (no reason given)