[edpc]

Unfamiliar with the U.S. mortgage market, unable to speak or read English well....

This is what happens when diversity over assimilation is encouraged.

Instead, Azimi, a cashier at Giant who makes $2,400 a month, found herself strapped into a no-down-payment loan with payments of $3,800 a month.

Hard to be sympathetic. Even if you don't fully understand English, numbers don't lie. 3800 is more than 2400 in any language.

[GOPJ]

Good judgment is often the child of bad judgment.

[Judith Anne]

Already posted here:

http://www.freerepublic.com/focus/f-news/1806768/posts

Same article, same title, same source.

[perez24]

When we were making 2400/month up here we were still in an apartment. That's not a lot of dough in the D.C area. In fact, it's pretty low.

They must have taken advantage of "relaxed" income requirements.

[HEY4QDEMS]

"They had a higher appetite for risk, which led to the lax standards that are resulting in delinquencies. The regulators should have been more concerned about protecting consumers than about protecting financial institutions."

BS! They didn't want to deal with State and Federal Civil Rights groups and agencies crawling all over them and screaming "discrimination!".

They backed the banks into a corner and now want to place the blame on them.

Being a white American, I had to put 10% down and submit tax returns from the previous three years, letters from my prior landlords, the whole nine yards to get my first mortgage. Try to demand the same requirements from an illegal and or a minority and the lenders end up dealing with a world of shit from every race baiter that climbs out from under every rock.

[kittymyrib]

The feds bent over for Jesse Jackson in forcing the banks to lend to people who had no business getting a loan for a car, much less a house. There was a very good reason for "red-lining" low income neighborhoods where people made too little money to get loans. But again, "civil rights" trumped good judgment and now banks will be left holding lots of degraded properties, because most of these homeowners had no concept of how to take care of a home, either.

[Always Right]

Illegals hit hardest.

[LibLieSlayer]

Take back there homes and cars and throw them over whatever fence exists... send them back to nirvana south.

LLS

[Comus]

Here's my cell, call someone who gives a shit.

[wodinoneeye]

"
Unfamiliar with the U.S. mortgage market, unable to speak or read English well....

This is what happens when diversity over assimilation is encouraged.


Instead, Azimi, a cashier at Giant who makes $2,400 a month, found herself strapped into a no-down-payment loan with payments of $3,800 a month.


Hard to be sympathetic. Even if you don't fully understand English, numbers don't lie. 3800 is more than 2400 in any language.
"

Dont banks check to see if you have sufficient income to pay the mortgage any more ????

(Or has that gone the way of the credit card companies and so dont care and will slap on enough penalties to take any/all the equity that the borrower could have built up and have them still owing more even after they foreclose????)

[rbg81]

Instead, Azimi, a cashier at Giant who makes $2,400 a month, found herself strapped into a no-down-payment loan with payments of $3,800 a month.

Obviously, a wise loan officer made THAT decision. These banks deserve what they get for being irresponsible. Unfortunately, the FDIC might have to bail them out.

[ca centered]

The article had to get to the victim stuff. Evil realtors, can't speaka da english, no understand da motgage.ahhhhhh!

[JRochelle]

Illegals. Taking the mortgages Americans won't take.

[Bean Counter]

Gee! Does that mean there really are good reasons to learn frickin' ENGLISH!!!???

[SMARTY]

"... Azimi, a cashier at Giant who makes $2,400 a month..."

I don't make that much AND I pay taxes, too!

[NeoCaveman]

Are we talking leagal immigrants or the other kind?

[WilliamofCarmichael]

unable to speak or read English well . . . many immigrants are struggling

Not to worry the bailout for "undocumented" immigrants will be added to the to-be-enforced portion of "immigration reform."

[GeorgefromGeorgia]

I wonder how many wage earners are living in that home?

[stylin19a]

Immigrants are emerging as among the first victims

2 lies in what is not even the 1st senetence.

[pabianice]

"Racist Loans: Women, Minorities Hardest Hit"-- NY Times