Quote:
Originally Posted by DeltaBetaBaby
I understand that there were a lot of people (not necessarily in this area, but in general) who were told things like "oh, you'll never qualify for this (good) loan, why don't you apply for this (not-so-good) loan?" Certainly, as you point out, people should be educated, but someone who is not a mortgage professional can't be expected to have the knowledge of a mortgage professional. Same with the realtors giving bad advice. Even people who had lawyers later found out that they couldn't trust them either.
I'm not absolving the buyers of blame, but certainly many, many people were complicit.
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Oh I agree as well with exactly what you are saying which I why I don't place blame solely on the buyer. Wasn't trying to. I just know when the housing boom started a red flag came to my mind when I first started seeing people I know for a fact would not afford the home they lived in. I wasn't trying to be arrogant but it was simple math.
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