Thread: Theives Revealed Mortgage Industry

Finally someone is after these crooks preying on the less fortunate, link to articel about the subprime industry shenagians.. Yahoo! Mail If the link won't load it is Cumo going after these greedy pigs.

Originally Posted by Crestwood33

Finally someone is after these crooks preying on the less fortunate, link to articel about the subprime industry shenagians.. Yahoo! Mail If the link won't load it is Cumo going after these greedy pigs.

Ah! For once you and I agree on something Crestwood. I call them the mortgage shysters because they duped alot of low income people into taking loans they thought they could afford.

Originally Posted by sid2112

Ah! For once you and I agree on something Crestwood. I call them the mortgage shysters because they duped alot of low income people into taking loans they thought they could afford.

.....................yep, didn't happen till fairly recently, when the interest rates went down and you couldn't make any money in the markets these greedy jerks preyed on the poor folks, not all though some greedy folks were in it for the home appreciation they were told was the best way to increase your net worth. Used to be a hassle to get a mortgage, recently the money guys were tackeling folks on the street begging them to borrow.

There's a sucker born every minute, no point in letting them go to waste.

There's certainly no reason to punish the people that weren't suckers by making them pay to bail out the saps. That's not the least bit "fair".

If what your saying is true, then why are so many professional and upper middle class loosing their homes?

Originally Posted by michaelr

If what your saying is true, then why are so many professional and upper middle class loosing their homes?

Because some are living beyond their means and couldn't really afford their mini-mansions compete with luxury SUVs and a heated pools.

Originally Posted by Colin

Because some are living beyond their means and couldn't really afford their mini-mansions compete with luxury SUVs and a heated pools.

............. Bingo,.................... then there were huge issues impacting the family budget,................. like gas prices food inflation and all that stuff not counted as inflation?? ..............................................Wife is cooking wild salmon, I am cooking cajun ovenfries I am outta here>>>>>>>>>>>>>

Originally Posted by Colin

Because some are living beyond their means and couldn't really afford their mini-mansions compete with luxury SUVs and a heated pools.

Could it be than when they bought it they had no problem affording it. What about those who were paying for their homes for five years or more and the cost on everything around them was increasing? Home energy is up by what 25~30%, education, health care, everything. Maybe just maybe do you think that there is a problem there, or are we to believe that millions of poor stupid dumb assed Americans went on a shopping spree for homes?

Originally Posted by michaelr

Could it be than when they bought it they had no problem affording it. What about those who were paying for their homes for five years or more and the cost on everything around them was increasing? Home energy is up by what 25~30%, education, health care, everything. Maybe just maybe do you think that there is a problem there, or are we to believe that millions of poor stupid dumb assed Americans went on a shopping spree for homes?

It's both. The dumb ones bought the biggest house they could barely manage to afford at the time.

Now they're losing them.

Sounds like a personal problem to me.

Originally Posted by Freedom for All

It's both. The dumb ones bought the biggest house they could barely manage to afford at the time.

Now they're losing them.

Sounds like a personal problem to me.

If it's both then it can't be a personal problem IMO. The feds have held the interest rates down far to long, prices across the board go up double digit percentage wise, yet inflation is some how at 2~3%. Good jobs have been lost and Wal-Mart is our largest employers. Wages have not moved upward in tune with the actual inflation. Of course people are going to loose their homes, just wait until they try for their pensions.