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Originally Posted by AVGWarhawk
Come on Stream, you know the "victim" card will be used here because of the "shady" loans offered. You know, the fat contract laid before you to read before you sign. The exact same ones ignored and signed anyway. Then the credit card offers start coming in the mail and these are filled out and ran to the max. Then they refinance to the hilt to pay of all the crap they amassed and can not pay for. Now there is no refinancing on a house that is worth far less than what the refinanced it for. Come on, it is not their fault. Surely it is someone else fault they got this way  . Someone needs to pay for the trips to Disneyland, the 2 SUV, John Deere riding lawn mower, the 30 foot sailing sloop, the inground pool, the hot tub and the half a million dollar loan that was all generated on living off refinancing a house upteen times  We will just wipe the slate clean and can start fresh with everything paid for with exception of the half a million dollar home that will now have a brand new loan at -4% and costs about $400.00/month. While the rest of us who bought wisely and within our means can stay in our current loans on the same loan value we purchased the property for and spend the rest of our time watching Johnny homeowner in his half a million dollar house go sailing on his now paid for sailing sloop.  I'm lov'in it at McDonalds.  |
All true to a degree although perhaps embellished a bit. The problem is that the general public at large do not realize this. If they did... and they will... the uproar will begin.
I find it hard to believe that the grifters make up the majority of US citizens.