WHO IS AT FAULT IN THE FORCLOSURE CRISIS?

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WHO IS AT FAULT IN THE FORCLOSURE CRISIS?

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WHO IS AT FAULT IN THE FORCLOSURE CRISIS?

[+] serious ballot by Grapost
ACTIVE Mon Apr 07, 08 - Tue Apr 07, 09
Is it the Lenders who offered unrealitic mortgage deals. The Buyer how took the unrealistic mortgage deals. Or the Government for allow lenders to offer unrealistic mortgage deals.

I lean toward blaming the buyer. I in some of the those deals, the people KNEW the mortage payment would DOUBLE in a couple of years. Yet they still thought they would be able to make the payments. Duh! Do you know anyone who's income doubles every couple of years? How stupid can people be?

Lenders
Buyers
Goverment
All of the above. EVERYONE!!!

Ballot #125587 : SEE RESULTS

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COMMENTS:
Voted : Buyers
ultimately. Buyer Beware.

by LCD on Mon Apr 07, 08 10:56am [+]

Voted : All of the above. EVERYONE!!!
The lenders for running the scam.
The buyers for not recogniziong the scam.
The government for allowing the scam.
The media for not warning the buyers about the scam soon enough.

by _Beelzebubba on Mon Apr 07, 08 2:04pm [+]

Voted : Goverment
To be precise, the idiotic moe-rons who allowed deregulation of the mortgage industry to allow the subprime industry to take flight.

by Truthseeker013 on Mon Apr 07, 08 2:05pm [+]

^ For syntax's sake, there should be a comma after "industry".

by Truthseeker013 on Mon Apr 07, 08 2:06pm [+]

Truthseeker, I didn't know you were a member of the Punctuation Police.

by Grapost on Mon Apr 07, 08 2:54pm [+]

Voted : All of the above. EVERYONE!!!
I thought firstly of the buyers because I myself purchased a condo and I did my homework and have not been burned...

I know now though many people were misguided into unreasonable arm loans...The government/fed manipulated the real estate market into artificially high housing prices by manipulating the interest rates...an attempt to forestall the inevitable dollar collapse that now looms visibly.

The chickens are coming home to roost and this is just the first wave.

I'm waiting to see how soon we witness a big riot(s),I'm guessing within 2 years.

by robotthinker on Mon Apr 07, 08 7:00pm [+]

Voted : Buyers
it is about greed--play now, maybe pay later...until the consumer realize that they never could afford a house in the first place.

by UncleMax on Mon Apr 07, 08 9:47pm [+]

Voted : Lenders
Always read the 'fine print' before signing. Get real.

by Black_Lava on Tue Apr 08, 08 6:07am [+]

OOOPS !! Meant to say

by Black_Lava on Tue Apr 08, 08 6:08am [+]

BUYERS !!!! ^

by Black_Lava on Tue Apr 08, 08 6:09am [+]

Voted : All of the above. EVERYONE!!!
Don't forget the realtors...

by thesoothsayer on Tue Apr 08, 08 4:37pm [+]

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