[goldstategop]

I've never heard of any one buying five mortgages on property they've never seen with no money down. No is THAT stupid... or are there people like this? Judging from this story, some people are gullible enough to believe anything they're told.

(Denny Crane: "Sometimes you can only look for answers from God and failing that... and Fox News".)

[MSSC6644]

Judging from this story, some people are gullible enough to believe anything they're told.

How do you think Democrats get elected? :)

[MarkL]

I've never heard of any one buying five mortgages on property they've never seen with no money down. No is THAT stupid... or are there people like this? Judging from this story, some people are gullible enough to believe anything they're told.

I think that there are a number of things that lead to this sort of debacle.

First off, you've got GREED. Someone who believes that they can "get rich, quick."

Secondly, you've got an awful lot of people out there who really believe that they're poor because they've lost out on "life's lottery," while the rich are simply lucky, and winners in "life's lotters." They don't believe that wealth is formed by hard work and savings: That it's something you either inherit, is given to you, or you steal from "the poor."

These people tend to be gullible, because they WANT to believe that they can "get rich quick" with no work, since that's how they tend to view "the rich."

Mark