WOW 43% HIT ON Your House!

[mrmarket]

Shame on me, shame on them

The problem was that the sub-prime lenders were telling unsophisticated borrowers not to worry about teaser rates ever going up. The borrowers did not even understand the contracts they were signing, they just believed what they were told by the lender.

If someone told them that they could now afford the home of their dreams, why would they suspicious?

The bad news is that with this rate lock program, Darwinism is circumvented. Stupid lenders need to be eliminated. Stupider buyers should also have been punished.

Stupid stupid stupid. Daddy stupid.

[Peter Hansen]

MR M But What Can You Do ?

The problem was that the sub-prime lenders were telling unsophisticated borrowers not to worry about teaser rates ever going up. The borrowers did not even understand the contracts they were signing, they just believed what they were told by the lender.

If someone told them that they could now afford the home of their dreams, why would they suspicious?

The bad news is that with this rate lock program, Darwinism is circumvented. Stupid lenders need to be eliminated. Stupider buyers should also have been punished.

Stupid stupid stupid. Daddy stupid.

Mr M bottom line we will be paying for it .......but what else is new.?...Hey shrug it off and just move on .some people would have been better off renting!

[IIC]

Hmmm...Constuction loans outstanding were at an all time high at the end of September...Next year will not be pretty.

[IIC]

Repo Tour

Repo Tour

http://www.latimes.com/business/la-me-stockton13dec13,1,6837649.story?coll=la-headlines-business&track=crosspromo

.

[riverbabe]

Repo Tour

http://www.latimes.com/business/la-me-stockton13dec13,1,6837649.story?coll=la-headlines-business&track=crosspromo

.

What a great idea! There are areas in Cleveland that are almost totally abandoned. Whole suburbs wiped out. What a mess!