I worked for a company who at one point would have done that loan.fatandfast said:The insurance business is a license to print money. The crisis in home loans was made worse by the bloated insurance companies looking to re-profit on their already enormous bank role. People in the NE bought houses with 100-110% loans with no income verification. And sorry to say the lure of home ownership was strongest in some low income areas. The NY Times had an article about a medical/home health worker who cleared 2600 a month.She was a single mom and had a young son. She bought a 440,000 dollar house, with NE taxes @6000 per year. Her mortgage payment alone was 2400. The appraiser never got out of his car,did a drive buy appraisal. and her paperwork was filled out at a diner,she was approved in less than 3 weeks.
Listen to Rush, Hannity, or any other Republican rhetoric machine, they think there is. It is why I am sure they are either stupid, liars, or both. I am leaning toward the latter.fatandfast said:Boy don't we all wish there was one guy to blame.