That's what I am afraid of. I have less then perfect credit, but I'm buying a house. I didn't go through a sub-prime mortgage from one of these crooked banks. I went to a private seller and wrote a contract with them 30-year fixed, medium interest. I feel like I did it the right way, and the capitalist way.
Now all these guys that shouldn't have gotten a bank loan are probably gonna end up ahead of me because the .gov rats are eventually going to bail out individual home owners and leave me and mine footing the bill, while I also pay for my legitimate contract loan.
Torches and pitchforks. Torches and pitchforks.
I agree. It makes me sick really.
From what I understand, there are already laws to pierce the corporate veil in case of fraud. Is there any reason the people who orchestrated this scam should not find themselves eating dogfood for the rest of their lives?