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Michael Moore Says......Foreclosures are the Banks' Fault!
http://http://www.examiner.com/examiner/x-41649-Manatee-County-Conservative-Examiner~y2010m8d4-Michael-Moores-Capitalism-A-Love-Story here's another 'Mooreism.'
Moore states that all the foreclosures are the banks' fault.
I would like to know how the banks are at fault for someone not paying their mortgage. When I applied for my mortgage, I do not recall an evil banker, appraiser, or broker with a gun, knife, or other weapon telling me I must sign, 'OR ELSE!' I do recall being told repeatedly how the loan worked, that it could result in an increased payment, etc.
I own a home, I have an adjustable rate mortgage (ARM), and I have all the paperwork that came with the mortgage. Scanning through the paperwork, multiple times, in bold print it warns, 'THIS IS AN ADJUSTABLE RATE MORTGAGE, THE RATES CAN ADJUST MAKING YOUR PAYMENT HIGHER' I think that its pretty obvious what could happen. Mortgage paperwork is standard, printed on forms approved by the government, so anyone who also has an ARM received the same warnings on their paperwork.
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