"You'll notice that the buyers in this story felt queasy about the 'no-doc' loan scenario, but their 'eagerness' overcame any thoughts of prudence. So they went ahead anyway.
"
And now they'll pay. Mortgage brokers are evil people. Two years ago, they were all selling cars. Now they're selling paper. They take their commission, and that's all they care about. How the terms of the mortgage affect you is irrelevant to them.
I have not met a single mortgage broker I would have near me. Not one.
"And now they'll pay. Mortgage brokers are evil people. Two years ago, they were all selling cars. Now they're selling paper. They take their commission, and that's all they care about. How the terms of the mortgage affect you is irrelevant to them."
But one is not vulnerable to that sort unless laziness, ignorance and greed are factors on the 'victims' side. This is why charlatans prey upon certain old ladies who are themselves looking to make a quick buck without bothering to do the research or ask too many questions.
My sympathy goes only so far.
"Mortgage brokers are evil people."
Sounds Howard Deanish.