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| Facts leading up to the housing bubble that broke our economy; "Just the facts ma'am just the facts" | |
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| Tweet Topic Started: Dec 21 2013, 04:04 AM (1,984 Views) | |
| Mountainrivers | Dec 21 2013, 06:30 AM Post #21 |
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Fire & Ice Senior Diplomat
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The real story! Here |
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| Sea Dog | Dec 21 2013, 06:38 AM Post #22 |
Fire & Ice Senior Diplomat
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I can see no difference between buying a home with a teaser rate and buying furniture with no payments for a year. The burden is still on the buyer to know if he can make the necessary payments. Is a car salesman to blame if the buyer defaults in a couple of years, if so, why? |
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| Berton | Dec 21 2013, 06:39 AM Post #23 |
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Thunder Fan
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http://www.forbes.com/2008/07/18/fannie-freddie-regulation-oped-cx_yb_0718brook.html |
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| Mountainrivers | Dec 21 2013, 06:41 AM Post #24 |
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Fire & Ice Senior Diplomat
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If the car salesman tells the buyer that the car will be worth more in a couple of years and fails to tell him that the interest rate will triple, then the salesman is to blame for the default. |
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| Berton | Dec 21 2013, 06:44 AM Post #25 |
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Thunder Fan
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Who applied for the loan? The borrower or the lender? |
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| Mountainrivers | Dec 21 2013, 06:46 AM Post #26 |
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Fire & Ice Senior Diplomat
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Source |
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| Mountainrivers | Dec 21 2013, 06:47 AM Post #27 |
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Fire & Ice Senior Diplomat
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The borrower, based on the information he was given by the salesman. |
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| Berton | Dec 21 2013, 06:48 AM Post #28 |
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Thunder Fan
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http://www.wnd.com/2009/04/94031/ |
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| Berton | Dec 21 2013, 06:48 AM Post #29 |
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Thunder Fan
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The lender was not the salesman though was he? |
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| Mountainrivers | Dec 21 2013, 06:50 AM Post #30 |
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Fire & Ice Senior Diplomat
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The lender sets the terms of the loan. If the lender didn't think the buyer could pay back the loan, he shouldn't have made it. |
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