Quote:
Originally Posted by glatt
All very true, and pretty obvious when you stop to think about it, but when we went to the bank looking for a loan, it didn't occur to us that we were going to talk to a sales person. Having never taken out a loan before, I thought that it was all serious business where the bank is this stogy old place that wants to protect its money and we would need to beg for the money from old Mr. Potter.
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The more I read about it the more I realize there is enough blame to go around at every point in the loan process. But it still pisses me off that we are bailing out the guy down the street who took a chance and tried to flip a $750,000 house, knowing all and well that he could never afforded it for any length of time. That is the guy that gets off his responsibility and we get to pay up the difference for. The system is broken. And by that I mean the whole bail out system. Some of these people just need to move to an apartment for the rest of their lives and get use to the fact that their credit is screwed for the next 15 years.