Neat commercial, and "feel-good", yet if "people are smart", would they have been led to slaughter so easily from the realtors, escrow companies and banks who promoted those adjustable/interest only loans to people who could not in reality even afford a home?
Or was this a way to stoke the fire, and keep the profits coming hand-over-fist?
Take a look at the pump next time you fill up...it costs less today to produce a gallon of gas than in 2000, yet the price is up nearly 250% than 2000.
Whatever it takes, make that sale...
2007-06-26 10:27:21 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Before you blame realtors, bear in mind that realtors do not offer financing. Our job is to find a buyer or a seller for a client or customer. Financing is not in our purview.
Next, there is a Truth in Lending Law in this country, and every person who took one of those mortgages either did not read what he was signing, did not look anywhere beyond the cost of the monthly payment, or was just plain stupid.
I suppose next we will be required to buy back houses which we sell and the buyer finds he does not like ?
2007-06-26 11:11:37 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
"Led to slaughter?" Sure, there are predatory lending practices, but there also has to be a degree of personal responsibility.
Every day in here, someone is looking for 100% financing on a home with lousy credit. They have no business getting a home loan but those spamming for business will certainly try.
The collapse of the subprime market had to happen, and unfortunately many people will lose their homes because they signed on for a dream. The carrot was dangled for a house they couldn't afford and they took the plunge.
2007-06-26 10:55:12 · answer #2 · answered by godged 7 · 0⤊ 0⤋
id have to say profit.
2007-06-26 10:47:11 · answer #3 · answered by Qyllix 5 · 0⤊ 0⤋