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| User Info | Bush freezing adjustable interest rates; entered at 2007-12-02 02:04:53 | |||
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Bsctrash Posts: 193 Registered: 2007-10-10 
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The people defaulting now are the ones that lied on their applications, lied on their income, had no intention of paying back the loan, had every intention of making a profit on their home appreciation, and now we are going to protect and promote the fraudsters and home flippers, while level headed people bought a much smaller home then they wanted because they knew they could not afford a bigger home, yet the no income, no doc, no verification leach on society is now in their mcmansion and will have a lower interest rate? Either the tax payer or the lender will pay for this. The lenders will go along with this fraud because they will be allowed to book this phantom income as neg amortization loan... America is a fraud.
2007-12-02 02:04:53
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