"D.Duck" wrote in message
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"JimH" wrote in message
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"D.Duck" wrote in message
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"HK" wrote in message
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http://tinyurl.com/2cqv7t

In my mind a lot of the blame for the home mortgage crisis belongs
squarely on the shoulders of those that received the loans.

In their quest to get into a home they failed to analyze what
could/would happen when the inevitable rate changes came along.

That doesn't excuse the lenders. "There's a sucker born every minute".


At what point of the deal did the lenders put a gun to the buyers head
and force them to sign?

That's my point, the home buyers must share a lot of the blame for their
decisions. The lenders played on the consumers ignorance.



I was annoyed when my mortgage broker pulled out a budget worksheet to
prequalify me. I told her I'd worked out the number a dozen times. I'd
brought the worksheets with me. She said "I know, but I'm not comfortable
without spending a few minutes on this." Her method came up with results
that matched mine, give or take fifty bucks, as far as the mortgage payment
I could afford. She said "You'd be surprised how few borrowers bother to do
this."