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

To: Schnullie who wrote (172972)	12/22/2008 1:39:21 PM
From: tejek	Read Replies (1) \| Respond to of 306849

pushing people in mortgages they ultimately could not afford Pushing people into mortgages? You really are from the devil-made-me-do-it school. You probably have more in common with Bush than you realize. That's right......their initial payments were lowered so that they thought they could make the payments. Very few understood that when the interest rates on their loans would reset depending on the LIBOR that their payments could jump by $500 to $1000. A scrupulous realtor explains such a possibility to a buyer. These weren't scrupulous realors selling them their homes. And that's where Slimey Al et al. come in. On one hand, you say people weren't forced into mortgages but on the other hand you blame Greenspan for lowered interest rates. Lowered interest rates did not cause the problem......its the real estate professionals who took advantage of those rates who are the culprits.