Reply #120: Not every mortgage is a fraud [View All]

[treestar]

Paying it back is the borrower's end of the bargain. Not sure what's so evil about that.

Most people buy their house taking the risk they'll lose their job. It's not a big risk, or the mortgage company wouldn't extend the mortgage. In general. Not saying there are no bad loans or loans the mortgage company shouldn't have made, and they take that risk too. If the person does walk away, the mortgage company has lost that bet.

But if you take out the mortgage, part of the risk is yours too. It's an investment, so there is going to be a risk. Land is a good investment. Much better than betting on horses. That's why so many people risk it.