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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: 10K a day who wrote (86078)	8/19/2007 8:45:08 AM
From: Tradelite	Respond to of 306849

Yeah, I know the eloquent answer.....very eloquent mortgage salespeople, who now are going out of business. When I worked with people looking for loans, I set them up with loan officers who spelled out the terms, spelled out the consequences of various loan options, discouraged people from doing dumb stuff, and didn't even offer some of the crappy loans that suddenly materialized in recent years. Negative-amortization loans were always available for those few daring folks who needed or wanted them, but were generally discouraged. Suddenly, it became a fad to have one.