All bankers are criminals and should be treated as such.
George Grapman wrote:
Paul Thomas, CPA wrote:
"St Georges Day April 23rd" wrote
The people in charge of these banks which did this should be killed
and their property confiscated to pay off any debt.
Now slow down sparkey. These lenders didn't go out, waylay some
poor scmuck on the street and force them to take out a loan they
couldn't support. It took at least two to create the problem. Lender and borrower. Greedy lenders. Greedy borrowers.
This is the only true way to handle these on-going bank frauds and
stock market swindles.
And the folks who said they had income sufficient to repay the debt?
I doubt that there is just one no-doc loan that contains a tad of
expectations and puffery on the application filled out by the
borrower. Nope, not just one for sure. In fact, I'd be surprised
if there were one that didn't contain some erroneous claim by the
borrower about their income or assets. Seems there is sufficient fraud on both sides to go around.
You have to remember that home equity loans are a relatively new
idea. Brought out by lenders to meet the demand of borrowers. Greedy borrowers took to them like a teen to a text
message. Borrowers took out home equity loans to do stupid things like go on
vacation. They used their house like an ATM, borrowing any and all
equity they could, refinancing and rolling up the HELOC, and second
mortgages into one big first mortgage with a cash out and starting
all over again. So who caused the mess you're in? If not you - the borrower - then
who? And why is it someone elses fault that they let you - the
borrower - be greedy?
Is it the cops fault that they let you speed? It's the fault of the
road department for making the roads so smooth that you can go twice
the speed limit? So now what, you shouldn't have to pay the
speeding ticket?
And only the lenders a being bailed out.
Thats a lie.
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