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

To: Pogeu Mahone who wrote (5005)	2/7/2011 8:47:41 AM
From: Jim McMannis	2 Recommendations Read Replies (1) \| Respond to of 119362

What about home equity loans...no one forced the people to give those out either and people are still losing their homes. And they were backed by HOME equity. No lies! And people turned around and bought more RE with the money... So much for paying down their mortgage..

To: Pogeu Mahone who wrote (5005)	2/7/2011 10:48:51 AM
From: pstuartb	9 Recommendations Read Replies (3) \| Respond to of 119362

You cannot spin that to make the people who got to take advantage of liars loans as culpable. By definition, people who took out liar loans lied. The liars bear some culpability for lying, even if the banks said it's ok to go ahead and lie to us, which they did. The liars could have said, today I am not going to lie even though this bank wants me to. Instead, I will rent, try to save a few dollars, and tell this greedy, crooked banker who wants me to lie to get lost. People with sixth grade educations could have come to that conclusion.