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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: estatemakr who wrote (8659)	1/15/2008 12:50:43 PM
From: The Ox	Read Replies (1) \| Respond to of 33421

I probably should stay out of this but.... None of it has anything to do with misleading the public about the fact that the mortgages they were taking out would have drastic increases in payments in just a few short years........ Grey area here. The mortgage companies mislead the public by making guarantees that, in the future, the public would be able to refi into better loans before the ARM rates reset. This was standard operating procedure throughout the industry. This is why I have stated that the mortgage industry should be the ones who should have to redo many of these outrageous loans they put unqualified people into. It boarders on bait and switch...again..grey area, imo.