Story Comments
Posted by: amazed 1 year ago
This page is a permanent archive of the comment below and its replies.
To view this comment in the context of the full discussion for the story, use this link.
-
Neutral
amazed1 year ago
This comment is below the standard viewing threshold View It »
Yeah, I think a better "face of the real estate crisis" is someone who did NOT continually refinance and refinance their house until they had negative equity after 38 years.
Reply
Her situation is a shame, but not unpredictable or even really tragic. I know it sounds cold, but if you borrow more than you can afford, you're most likely to get into trouble.
I guess then, if you're elderly and make a big, dramatic gesture, you get your loan forgive --otherwise known as something for nothing.
So, is she really tragic or is she gaming the system?
Someone who had a mortgage that they could originally afford the terms of, and who lost their jobs because of outsourcing, medical problems, declining fortunes of the company -- now THOSE people I have enormous amounts of sympathy for.-
Neutral
rwrnae1 year ago
This comment is below the standard viewing threshold View It »
Yes and I even have some sympathy for the poor smucks who got in over their heads because they didn't understand all the fine print or were flat out lied to by crooked loan officers trying to pump up their production. I have known a lot of otherwise fairly intelligent people whose eyes just glaze over whenever someone starts talking numbers, percentages, etc. There is no way anyone should have been granted a loan for 100% or even worse 100+% of the value of their property or with a payment that any rational individual would recognize as being more than they could possibly afford. Plenty of blame to go around, greedy bankers, greedy individuals, greedy investors. Grandma always said if it sounds too good to be true, it probably is.
Reply
-
loading ...
People Who Liked This Comment (0)
No one voted this comment positively. Is it really that bad of a comment?
People Who Didn't Like This Comment (0)
No one voted this comment negatively.
Post Reply
You are not signed in to Propeller.com. Please sign in to post a reply.