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Another aspect of the mortgage crisis.	by Peace_man	2008-07-29 09:47:29
The laws changed recently	by subbywan	2008-07-29 09:51:05
That makes sense.	by Peace_man	2008-07-29 09:54:32
Yes, both should be penalized.	by Illiad	2008-07-29 10:02:35
The borrowers are penalized.	by Peace_man	2008-07-29 10:16:12
*Correction: they lose a* home.**	by esbita	2008-07-29 10:50:31
It's becoming a growing practice to quickly get into a more modest/affordable home before they "walk away" from the big, fancy home. The mortgage lenders willing to do this figure that once their credit is trashed, they can't refinance the mortgage anywhere else for a few years. Why the h4 didn't they buy/stay in the more modest home to begin with? The lenders for the most part should know better. But there have been some rather large fraud rings in operation, too, that have snowed the banks. Can't place all the blame on the banks and mortgage brokers. My income is quite modest, but a couple years ago I'd have "qualified" for a McMansion in a new subdivision around here. I knew that was nuts, and I stayed in my very modest 1 bedroom apartment. Wanna talk about despair and lost productivity? THESE idiots can deal with the noisy night-owl neighbors just like I have to. I've got little sympathy.
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