DIYbanter - View Single Post - Americans brace for next foreclosure wave

HeyBub[_3_]

wrote:
On Wednesday, April 4, 2012 6:42:03 PM UTC-4, Home Guy wrote:
Ever notice that you never see headlines like "Canadians brace for
next forclosure wave" ???

Well, you see, Canada actually has regulations in place that actually
PROTECT the people. In the USA, the regulations are written so that
certain elements can legally rob everyone else blind.

Not everywhere.

Texas law, for example, prohibits a home mortgage for more than 80% of the
appraised value. Many homeowners in my state were hit along with the rest of
the country, but we didn't have anywhere near the percentage of defaults as
were seen elsewhere.