John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: estatemakr who wrote (8498)	12/4/2007 4:44:22 PM
From: The Ox	Read Replies (1) of 33421

"...Lending institutions didn't lie ..." Yes, in most cases they probably didn't lie but they didn't exactly tell the whole truth. Glossed over the negatives, maybe? Why explain the finer points when you are about to make a bunch of money on a scam? Highlight the "teaser rate" implications and dismiss the "rate reset" details as not that important. "They WERE told!" They were also "told" that they would be able to refi before the reset occurred. They were also "told" that the equity in their homes was greater then the prices they were paying. I'm sure they were "told" not to worry. I'm sure we are kicking around much of the same common ground but we're looking at it from slightly different perspectives.

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