The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: tejek who wrote (287775)	10/29/2010 5:07:41 PM
From: Valuepro	Read Replies (5) of 306849

"it is a crime to give someone a loan that they can't pay back." No, it's crime to borrow money you can't pay back. Does a lender have to have any more social obligation than the grocer who sells steak to someone who should be buying meat loaf? Can't people be responsible for their own actions? In this last real estate cycle, all players threw caution out the window thinking rising prices would continuously bail them out of their mistakes - lenders and borrowers alike. There may have been some borrowers who were too stupid or ignorant to know what they were doing, but I doubt it was the majority who now find themselves underwater. Ever heard of "liar loans"? You can't be an unknowing liar.

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