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greenlife

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greenlife

Re: 955 post# 170313

Thursday, 01/16/2014 10:33:12 PM

Thursday, January 16, 2014 10:33:12 PM

Post# of 793209
I have an employee who in 2007, making 45,000 a year with one bankruptcy on file ... 6 yrs prior...no down payment who qualified to buy a house at 280,000... With 3 mortgages.... 1 for the house, 1 for the down payment ,1 for security, pmi etc....this is what was wrong ... The housing industry went nuts, the wealthy property owners and realtors, made a fortune... The cause of our meltdown ...that's capitalism .... But There is price to pay..... Fannie and Freddie were the scapegoats...jmo
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