Reply #14: Repeat from above but worth a repeat [View All]

[emsimon33]

I personally know several of "those people who bought houses they couldn't afford," as you put it. Because the mortgages were sub prime and the mortgage companies misrepresented the mortgages, the three families were able to pay their mortgages (which they got at a much higher interest rate than the going rate because they were sub-prime) until the mortgage companies began raising the interest rates as the ARMs were not tied to the prime rate but to the mortgage companies' greed. Rates were going up and through the roof every month. I was able to hook each family up with an honest mortgage lender and got them fixed rates that ended up being less than what their original interest rates were. All three families are still in their homes and paying their mortgages on time and with no effort!!!!! Yes, there may have been some people who took on mortgages that they could not pay, but a large percentage of people were duped and are victims of greed and dishonesty in an industry that continues its practices in now foreclosing on them without following the proper procedures.

The last laugh may be on them as people who can afford their mortgages just walk away from their upside down mortgages just as the Bankers Mortgage group did theirs in Washington DC (Thank you, Jon Stewart, for reporting on this).

There are two sets of rules in play in this country now: One for the rich and greedy and one for EVERYONE ELSE! And most of us are the EVERYONE ELSEs and we better stop blaming the victims and drinking the Kool Aid!