he also lamented the millions of americans who lost homes "many of which they couldn't afford them when they bought them." clearly the fault of the bush administration.
i want to be able to borrow as much money as I want. it's up to me to decide if i can't afford it. despite all the preditory lending garbage, every mortgage application by law showed the payment and what in the worst case it could go up to. if you are too lazy even to look at that basic information i dont' feel sorry for you in the slightest.
i want to be able to borrow as much money as I want. it's up to me to decide if i can't afford it. despite all the preditory lending garbage, every mortgage application by law showed the payment and what in the worst case it could go up to. if you are too lazy even to look at that basic information i dont' feel sorry for you in the slightest.
Can you imagine being too stupid to know what loan amount and payments you're taking on, yet still thinking that buying a house is for you?This is self-congratulatory. Actually, there is a lot of good science behind marketing practices. Predatory lending practices were applied significantly and effectively. Much of the "basic information" was hidden and certainly never discussed up front.
So, who do we hold accountable? The people who were targeted for deception and were successfully duped, or the Decepticons? They didn't come after you (I'm assuming) or me for sub-prime mortgage contracts.
Can you imagine being too stupid to know what loan amount and payments you're taking on, yet still thinking that buying a house is for you?
Clearly the problem is the marketers and mortgage brokers. Let's not dare blame the guy that signed up for the note.
The reverse is simply: shouldn't the banks be held accountable for making bad loans? They packaged these "products" and those products failed.
GSM.
However, I didn't want to GSM you there (even though I did). The con (to put simply) was offering sub-prime interest rates only to hike them up a few years later unexpectedly. This was not spelled out in a number of cases, and the people targeted were generally not graduates of the University of Tennessee.
they lost hundreds of billions. how have they not been held acocuntable for making bad loans? i suggest you look at the independent underwriters if you want to find someone who hasn't be held accountable. of course 99% of those people are out of jobs.
once again by law every mortgage application listed the worst case scenerio for the interest rate. all they had to was read it. i think that required a 6th grade education.
This is self-congratulatory. Actually, there is a lot of good science behind marketing practices. Predatory lending practices were applied significantly and effectively. Much of the "basic information" was hidden and certainly never discussed up front.
So, who do we hold accountable? The people who were targeted for deception and were successfully duped, or the Decepticons? They didn't come after you (I'm assuming) or me for sub-prime mortgage contracts.