[Papa Chester]

...then why are people complaining about predatory lending? If those people couldn't afford their home to begin with then why save them from foreclosure?

[kobacker59]

Same reason that we should go after the vultures on Wall Street that sold hard working Americans a pack of lies. Those people are riding on the backs of many people trying to better themselves.

[Paladin]

it's always someone else's fault

[Think 1st]

Because some people have at least a small amount of intelligence.Sorry about you.

[lukep135]

people who belive that have half a brain if that. people actually think the rich can afford it and they should be paying for everyones mortgage.....socialism

[Drixnot]

Because they mislead the less intelligent into believing that they could afford the loans.They gave them teaser rates and at first there were payments that were affordable, then after the first year the adjustable rate mortgages kicked in and the payments went up and up and up.

[Komaraconsulting]

it wasnt just "less intelligent" people it was a majority of the borrowers and lenders who knew they couldnt afford the 5 yr ARM but the market was falsy forcasted to keep rising and everyone was happy to refinance thinking even better days were ahead. Well the house values dropped almost overnight and to top it off people are losing income/savings and unemployment is sky rocketing. It was a perfect storm forming while your weather man was telling you it would be 80 and sunny. Now the banks have to correct there lending mistakes and hope borrowers can keep some flow of income to work something out. Working with clients, I hear everyday about there value dropping and they want there modification to reflect there current appraisal. When you take a look at there loan history they refinanced everytime there value increased or raised there equity line. There has to be some accountabilty to pay the obligated debt and for those people I think they should be held accountable. The people who I care for the most are the ones with families who are going to be put on the streets because they just took a hit with the overall economy, job market, and dramatic hit to there income. There are clients of mine who really arent hurting but they just want to see if they can save money. You have a wide background story thats almost unique to everyones situation. I just hope we all can get through it.

[Charlie79]

Key word: "Predatory"---what else did they expect? People need to learn how to read contracts before they sign them. Plain and simple.

[CONTACTS Please Read My Profile!]

Because a lot of those people were sold pie in the sky. The lenders didn't care because they were getting their fees and monthly quotas. They knew that it would come back to bite some people on the ass, but they were getting it up front. And as quickly as some mortgage companies were being sold and traded back then, they knew it would be somebody else's problem. That's why.