The question is; how do we make these people aware of who and how this was done to them? Acorn, Fanny, Freddy, Franklin Raines, Countrywide, Dodd, Waters, Schumer, Clinton's CRA, Obama....all had a hand in it!
These people's hopes were violated - by the people named above. The have a right to be pizzed. And what does the Republican party do....nothing to convert their anger into votes!
...yes we can be mad at those that gamed the system and bought houses they knew they couldn't afford...but there is political capital to be made here and we aren't doing it.
With the outgoing administration’s record of touting the “ownership society” as it was, Republicans aren’t exactly pristine on the matter, so ... crickets.
The GOP was in on it too I’m afraid. GWB pushed hard to make loans available to all Americans. Also, Mr. Andrea Mitchell made it attractive with his actions (very low interest rates) at the Federal Reserve.
Me too. 4 or 5 of my clients are going through this.
No one forced these people to buy homes they could not possibly afford. They’re the ones who helped put us in this mess in the first place.
I don’t share your sentiment. I think the feds need to review the mortgage application. If income and/or assets are mistated, the borrower will have to explain to the feds why there is such a huge discrepency. Many borrowers will blame the mortgage broker, then the feds should haul both in front of an investigator. Either or both lied and have committed fraud. I don’t think the borrower should just suffer foreclosure, he/she should also suffer jail time if they lied on the loan application. That is how all this crisis started, broker and borrower lying on the application.