Comments?
Technically, no business has a conscience. But that isn't what the poster meant.
Regarding what the poster meant, who cares!
Do you think "the car game" has a conscience? Or would the local dealer stick you in a $800 a month payment after rolling $6,000 of negative equity into the loan and not think twice about it? Of course he would do it.
How about the credit card companies charging 22% that gave you the problems in the first place? Do they have a conscience?
No business has a conscience and no industry has a conscience. They all want to "move product" and do it as fast and in as much volume as they can. Period.
If you are a moron and take a bad loan then you are to blame. Not a TV commerical, or the "mortgage game". YOU are to blame.
There are two sides to this. Yes, some mortgage companies push loan products that aren't meant for Joe Six Pack, but at the same time Joe needs to do his homework.
Personally, I do few Option ARMs. If the customer knows what they are and how to use them, I'll do it. I don't just habitually sell them to every average Joe. The key is-if the negatively amortizing minimum monthly payment is the ONLY WAY you can afford the payment, then YOU CAN'T AFFORD THE HOUSE. If you use it as a financial tool but are perfectly able to make the much-larger fully amortized payment once the time comes that the lender requires you to, then it can be a good loan.