Mortgage "crisis" USA TODAY OPINION - Page 4 - DodgeBoard.com

TexKan · #31 (**permalink**) 03-06-2008, 08:26 AM

People don't go out looking for new homes with the intent to default. I think to assume that folks are just recklessly purchasing over thier heads is well just dumb. They rely on mortgage "professionals" to help guide them into achieving thier dream of home ownership. Isn't it ironic how the only folks that loose is the home buyer? The "professionals" have insurance AND the govt to bail them out of a situation that they helped create to begin with.

I'm all for helping folks stay in thier homes. If they help the bankers and realtors the very least they could do is complete the circle and help citizens that purchased on good faith to stay in thier homes.

Detector · #32 (**permalink**) 03-06-2008, 08:38 AM

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They rely on mortgage "professionals" to help guide them into achieving thier dream of home ownership.

I guess my problem is my old fashion thinking. I'm having a hard time letting go of the, seemingly obsolete, concept that people should do the right thing. My mistake was going to the dealer/bank thinking they would look out after my best interests.

I know, very naive, but I'm having a tough time adapting to this you can't trust anyone world we live in. And an even tougher time understanding how it has become the excepted thought of "good business practice" by people.

Army_of_One · #33 (**permalink**) 03-06-2008, 09:11 AM

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Originally Posted by Detector

Live and learn I guess.

..and there's another problem. A lot of people don't learn....they just live. EVERYONE makes mistakes, me included, but some learn from them and some don't. If you do the same dumb sh*t over and over then do you deserve to have the gov't bail you out?

Highwayman · #34 (**permalink**) 03-06-2008, 09:18 AM

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Originally Posted by Army_of_One

....If you do the same dumb sh*t over and over then do you deserve to have the gov't bail you out?

Aren’t HUD properties the ones where government bailed out lenders over and over again?

Made in the USA · #35 (**permalink**) 03-06-2008, 10:33 AM

When I was young, I lived in a $200 piece of crap mobile home. Bought and paid for. Worked 10-16 hours a day. Saved money for years, until I could afford a down payment on a decent little house. Fed my kids, paid my bills, lived within my means. No one has any patience anymore. They want everything "right now"!

Army_of_One · #36 (**permalink**) 03-06-2008, 11:19 AM

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Originally Posted by Highwayman

Aren’t HUD properties the ones where government bailed out lenders over and over again?

The mortgage companies are taking a hit now just like the people that entered into loans they can't afford. A lot of mortgage companies are folding up/closing doors and laying off people. Now is not the time to be a broker...lol or the guy with an ARM...

Detector · #37 (**permalink**) 03-06-2008, 11:25 AM

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When I was young, I lived in a $200 piece of crap mobile home.

When you was young a brand new mobile home cost $200

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They want everything "right now"!

You're right! And that includes the IRS, the banks and utilities. It wasn't that way when you were a kid. I remember when businesses cared about their patrons welfare, and not just their money. You used to be able to say I'm having a tough time and will bring the money in next week. It doesn't work like that now.