For most caught up i this, they knew exactly what the ARM mortgage was. They just thought they could flip a house before the rate changed. Then surprise, surprise. Now, whose fault is that? The bank because these people took a risk and lost? I don’t think so.
Arm, leg, and “interest only” to boot— then bundle ‘em up, sell ’em to “investors” in a “hedge” , so only the scammers walk with the money, and they think Social Security INSURANCE (It wasn’t intended to be a full pension) is a Ponzi????
hotdogger almost 13 years ago
For most caught up i this, they knew exactly what the ARM mortgage was. They just thought they could flip a house before the rate changed. Then surprise, surprise. Now, whose fault is that? The bank because these people took a risk and lost? I don’t think so.
Clontznil Premium Member almost 13 years ago
Too bad they didn’t know about fixed rates.
Dtroutma almost 13 years ago
Arm, leg, and “interest only” to boot— then bundle ‘em up, sell ’em to “investors” in a “hedge” , so only the scammers walk with the money, and they think Social Security INSURANCE (It wasn’t intended to be a full pension) is a Ponzi????
pirate227 almost 13 years ago
The fault lies with BOTH. The banksters greed and the borrowers stupidity.