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Being in the mortgage industry myself, it's hard to put a finger on someone. I know that at one point I was surprised at the types of crazy financing that was available and the way some people were being taken advantange.I know that a lotof this crazyness now is being caused by idiots who don't want to keep making payments because their houses are not worth what they paid for. They bought their house with very minimum investment, or no investment.You'd be surprise how many people come up to me asking me to encourage them to walk awy from their homes because it's not worth it anymore....I tell them, Did you pay the bank extra when your house was worth 100 to 200k more? It's ridiculous! the bank who agreed to be the nice guy and let these people borrow thousands of dollars in good faith are getting shafted by all these people.It's the borrowers fault!!!!
Being in the mortgage industry myself, it's hard to put a finger on someone.
I know that at one point I was surprised at the types of crazy financing that was available and the way some people were being taken advantange.
I know that a lotof this crazyness now is being caused by idiots who don't want to keep making payments because their houses are not worth what they paid for. They bought their house with very minimum investment, or no investment.
You'd be surprise how many people come up to me asking me to encourage them to walk awy from their homes because it's not worth it anymore....
I tell them, Did you pay the bank extra when your house was worth 100 to 200k more? It's ridiculous! the bank who agreed to be the nice guy and let these people borrow thousands of dollars in good faith are getting shafted by all these people.
It's the borrowers fault!!!!
