Is the homeowner guilty?
I don't think so. Check this out.
Should a lender justify the credit worthiness of the borrower? ...yes.
Should a lender justify the credit worthiness of the borrower? ...yes.
posted by meblogin at 11:24 PM
2 Comments:
This whole thing was a nationwide greed driven scam that everyone knew about and no one did anything about. Now the Federal Reserve is moving in with some guidelines that should have been just common sense, but the ones who made the money as usual are long gone. Those hurting are those at the bottom who are guilty of having a dream, nothing more, just a dream. BB
I think I exactly one half agree.
Some with a dream wanted a lower monthly payment and took a risk.
Some are as you perfectly described.
I believe that the Federal Reserve/Greenspan should have seen the writing way ahead of time. Maybe they did....who knows...
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