Subject: It's not the bank it's the broker. Author: kfister : member since May, 2007 : 2976 posts Posted on: 2008-03-16 14:39:45

People know their payments are going to go up. The mortgage brokers are salesmen. They also get fraudulent appraisals to get loans approved.

The banks are equally culpable for approving the loans. They have been lending money that they don't actually have or doesn't exist.

People are finding it advantageous to just walk away from their homes.

--
Ken Fister - Charlottesville, Virginia USA
97 328i, 95 540i, 97 Hino truck
bmwecu.org

• You can tell we have a Republican White House: - bcweir750 2008-03-14 13:18:31 (141 views)
  • It's not the bank it's the broker. - kfister 2008-03-16 14:39:45 (121 views)
    • Understood, Ken, but here's the rub! - bcweir750 2008-03-16 18:03:31 (125 views)
      • Hmm. - kfister 2008-03-17 15:18:04 (123 views)
        • Why don't we ask 320iAlpina to spend his day off.... - bcweir750 2008-03-17 15:49:20 (119 views)
  • Where is the leadership...? outsiders view. - charlie 2008-03-14 19:04:17 (145 views)
    • Re: Where is the leadership...? outsiders view. - htrdbmr 2008-03-17 14:58:45 (136 views)
      • No irk intended, just simple truths... - charlie 2008-03-18 03:53:02 (120 views)
      • It's not the nation that embarrasses me, it's the lack of TRUE leadership. - bcweir750 2008-03-17 15:43:58 (113 views)
        • Re: It's not the nation that embarrasses me, it's the lack of TRUE leadership. - htrdbmr 2008-03-17 20:30:02 (133 views)
    • Re: Where is the leadership...? outsiders view. - Shayne 2008-03-14 19:52:42 (142 views)
      • George W. Bush unplugged! (pic) - bcweir750 2008-03-15 10:59:37 (170 views)