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

To: Broken_Clock who wrote (5656)	2/9/2011 4:50:19 PM
From: deeno	1 Recommendation Read Replies (2) \| Respond to of 119362

" Who are you defending?" ah see what happens when dont read the whole thread ;^D. he comment.......... " "So for a bank to accept a liar loan and give the liar the money is not the liars fault. " I objected to the above sentence written by someone who I was trying to figure out. He responded that he lives by the statement. His rebuttal to my comments on personal responsiblity was that I should count the number of brain cells I have. That said, I have mentally noted (on one of the brain cells I counted) that his moral compass does not point northward. As for you, well im not sure. Not that you care. I guess in effect im not defending anyone. I merely stated that if someone lied (committed fraud) on an app ie. falsely claimed income, said he had some job and didnt, lied about debt burden etc. signed and attested and notorized to those statements then he ought to be punished. If the bankster knowingly helped this person commit fraud I would say that he is either and accomplis or a conspiritor. Appraisels falsely done would be the reponsiblity of the appraiser and would also be punished. Now is that so hard? I object to the idea that you punish the conspiritor and not the perpatrator. both (all) should be held accountable. The question I guess you would have to grapple with is do we throw all those dead beat lying homeowners in jail? if not why go after anyone else. "As for 1 in 50 not understanding....I was being nice" Actually you just made it up out of the blue. "Most folks on this thread are clueless when it comes to the real ins 'n outs of escrow, loans, etc. " i agree with this, but thats not what im talking about. it seems a great number of homebuyers LIED about how much they make, where they work, income sources and debt burdens. None of that is either complicated or subtle. Its fraud.