ELECTION 2016

[sarals]

...this problem is mainly a result of people getting too greedy over how much house they wanted and now they want us to bail them out.

you have statistics on that? I think it's your point of view and although I'm sure some of that has happened, my view is that it is equally the responsibility of banks/lenders to encourage people understand what kind of loans they are getting into and the possible consquences.

All you have to do to see what kind of crap lenders are promoting is to listen to the radio or do a few online searches:

Rates as low as 3.8% (bad credit okay)
http://www.refinancetrust.com/index.asp?SourceID=401003&OVRAW=mortgage%20refi&OVKEY=mortgage....

$150,000 mortgage for as low as $483 a month
http://www.pickamortgage.com/freeoffers/index.asp?SourceID=201003&OVRAW=mortgage%20refi&OVKE....

and even from eloan.com (from a link on the home page)

Combination Loans provide Zero-Down financing
If you’re ready to buy a home but don’t have enough cash for the down-payment, an 80/20 Combination Loan might be the answer. E-LOAN can help you with an 80% first mortgage and a 20% second mortgage that cover the purchase price of your new home. From application to funding, the entire process runs simultaneously so you can close both loans at the same time. And, there is no need to pay PMI with this type of loan, which means a larger tax deduction for you!

http://www.eloan.com/loanadvisor/input1?purpose=purch&own=y&purchcombo=y&nextbtn=1&l....