Quote:
Originally Posted by Detector  the economy gets blamed instead of the lenders trying to meet a sales quota. |
and of course the Bush Administration.
My niece works in the mortgage industry. She told me about some of the practices of some lenders.
She said they fudge applications to get people into houses they can't afford. She also said that people are told more than once that if the interest rate goes up their payment will go up and THEY UNDERSTAND that but they buy anyway...then when the payments go up they can't make the payment and we have the situation we have now.