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Facts leading up to the housing bubble that broke our economy; "Just the facts ma'am just the facts"
Topic Started: Dec 21 2013, 04:04 AM (1,984 Views)
Mountainrivers
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Berton
Dec 21 2013, 06:18 AM
The real story!

Here
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Sea Dog
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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
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http://www.forbes.com/2008/07/18/fannie-freddie-regulation-oped-cx_yb_0718brook.html
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Mountainrivers
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Sea Dog
Dec 21 2013, 06:38 AM
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?
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
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Who applied for the loan? The borrower or the lender?

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Mountainrivers
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Berton
Dec 21 2013, 06:39 AM
Source
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Mountainrivers
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Berton
Dec 21 2013, 06:44 AM
Who applied for the loan? The borrower or the lender?

The borrower, based on the information he was given by the salesman.
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Berton
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http://www.wnd.com/2009/04/94031/

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Berton
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Mountainrivers
Dec 21 2013, 06:47 AM
Berton
Dec 21 2013, 06:44 AM
Who applied for the loan? The borrower or the lender?

The borrower, based on the information he was given by the salesman.

The lender was not the salesman though was he?

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Mountainrivers
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Berton
Dec 21 2013, 06:48 AM
Mountainrivers
Dec 21 2013, 06:47 AM
Berton
Dec 21 2013, 06:44 AM
Who applied for the loan? The borrower or the lender?

The borrower, based on the information he was given by the salesman.

The lender was not the salesman though was he?

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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