Talk about a wonderful cocktail......... - cougarguard.com — unofficial BYU Cougars / LDS sports, football, basketball forum and message board

exUte · 03-20-2008, 02:13 PM

http://money.cnn.com/2008/03/19/real...ex.htm?cnn=yes

Stupid homeowners and greedy mortgage brokers make a perfect coctail. I would love to see their lending papers. They normally include a separate line item for taxes (and possibly insurance).

Greed. It's a wonderful American pasttime while you screw someone else. Mortage brokers, banks, builders and homeowners all alike.

You've got the mortgage brokers who will do almost anything to close a deal. You have banks who knowingly loan money to bad credit risks.....just so they can be part of the real estate wave. And then the homeowner who thought they could use their house as an ATM to buy stuff they didn't need and couldn't afford. And throw in the builders for good measure who cleared $80K per home in the Phoenix area even though they were building faster than the population growth and now they have gone to the feds looking for help as well. Geez, you couldn't have saved a little bit of the profit to take you through the lean times?

But wait, don't worry..........let's have the federal government bail us all out with taxpayer money.

03-20-2008, 02:13 PM	#1
exUte Senior Member Join Date: Nov 2007 Posts: 2,326	Talk about a wonderful cocktail......... http://money.cnn.com/2008/03/19/real...ex.htm?cnn=yes Stupid homeowners and greedy mortgage brokers make a perfect coctail. I would love to see their lending papers. They normally include a separate line item for taxes (and possibly insurance). Greed. It's a wonderful American pasttime while you screw someone else. Mortage brokers, banks, builders and homeowners all alike. You've got the mortgage brokers who will do almost anything to close a deal. You have banks who knowingly loan money to bad credit risks.....just so they can be part of the real estate wave. And then the homeowner who thought they could use their house as an ATM to buy stuff they didn't need and couldn't afford. And throw in the builders for good measure who cleared $80K per home in the Phoenix area even though they were building faster than the population growth and now they have gone to the feds looking for help as well. Geez, you couldn't have saved a little bit of the profit to take you through the lean times? But wait, don't worry..........let's have the federal government bail us all out with taxpayer money.