Home Mortgages |
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Monday, March 19, 2007
1 comment:
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Anonymous said...
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"...crooked lenders"???
Unfortunately, she's right about how the dems can use this. Colorado has the highest default rate in the country and I hear all the time about how it's the fault of the banks and real estate agents. And sadly, there's going to be a whole lot of people who will buy this.
Not me. For cripes sake, it's all in black and white. Read the damn documents. If you're betting on the come, fine. Our free market gives you the opportunity to gamble. If you buy a home thinking your salary will go up or the home will appreciate, WTF is wrong with that?
But if things go south, if you've made a poor mortgage product choice, whose damn fault is that? If you refi after refi, sucking the equity down to zero, or worse, going negative, did someone put a gun to your head.
I've been waiting for this to happen, just a little longer and there'll be a wholesale shakeout. Than there's going to be a ton of opportunities, I see a little of that now. Remember the 80s, same thing happened, made my first million with a piece of bank owned commercial property. They blamed Reagan for changing the tax consequences of real estate transactions. Whatever. The bottom fell out of the real estate market and the banks hate owning property.
MM -
3/20/07, 11:58 AM
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