http://www.americanconsumernews.com/2008/05/lenders-still-making-the-same-mistakes-which-caused-the-sub-prime-mortgage-mess.html Helping Smart Shoppers Save Sat, 13 Mar 2010 21:39:54 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.americanconsumernews.com/2008/05/lenders-still-making-the-same-mistakes-which-caused-the-sub-prime-mortgage-mess.html/comment-page-1#comment-1692 Jamison Tue, 11 Dec 2007 22:38:16 +0000 http://www.financeispersonal.com/2007/12/lenders-still-making-the-same-mistakes-which-caused-the-sub-prime-mortgage-mess.html#comment-1692 I don't know what to make of all this... before these mortgage companies starting giving a loan to anyone that had a mouth, 'certain' political groups put up a fuss that lenders were only giving loans that the 'rich' could afford and they insisted mortgage companies create loans that 'less wealthy' people could afford... they did it... now that same political group is mad that the mortage companies "tricked" buyers and wants them to bail the buyers out... I say no way! Buying a house isn't like buying a candy bar. It takes time, responcibility, a good job, solid income, a down payment, anyone who doesnt read fine print in ANY document is a fool, but I am pretty sure the lenders said "interest only" a time or two... I don’t know what to make of all this… before these mortgage companies starting giving a loan to anyone that had a mouth, ‘certain’ political groups put up a fuss that lenders were only giving loans that the ‘rich’ could afford and they insisted mortgage companies create loans that ‘less wealthy’ people could afford… they did it… now that same political group is mad that the mortage companies “tricked” buyers and wants them to bail the buyers out… I say no way!
Buying a house isn’t like buying a candy bar. It takes time, responcibility, a good job, solid income, a down payment, anyone who doesnt read fine print in ANY document is a fool, but I am pretty sure the lenders said “interest only” a time or two…

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