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Aw, Robin - but you forgot YOU! So it'd have to be a Robbin' xyz - Now THAT would make a good porno. A nice edge of S&M. That's your style, no, Julie?
Who caused the recession, collapse of the housing market, etc... if not the president in power now? .
I was thinking that would be the lenders who loaned money to people who couldn't afford to pay it back and those who borrowed money they knew they couldn't pay back?
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So you're willing to recognize that it's not all Bush's fault, but you're scared about Obama, and it will all be his fault?
I don't think the economy is all Bush's fault. I do place a lot of blame on him for the war, though.
FTR, I don't think I've ever said I'm scared or afraid of Obama. However, you've got a Democratic controlled Senate and House so there appear to be less checks and balances.
FTR, I don't think I've ever said I'm scared or afraid of Obama. However, you've got a Democratic controlled Senate and House so there appear to be less checks and balances.
...like the republican controlled Senate and House for most of Bush's presidency?
Location: So let them talk about us, let them call us funny things, people sometimes do. I dont care as long as you know I love you. Oh, and you know I do
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Quote:
Originally Posted by twiceblessed
I was thinking that would be the lenders who loaned money to people who couldn't afford to pay it back and those who borrowed money they knew they couldn't pay back?
bull-****ing-****
How about the huge influx of predatory lenders? How about the fact that over 80% of new mortgages were considered subprime after Bush came into office?
Our mortgage went up 60% in 13 months. Could YOU afford to pay 60% more per month from what you're paying now?
How about the huge influx of predatory lenders? How about the fact that over 80% of new mortgages were considered subprime after Bush came into office?
Our mortgage went up 60% in 13 months. Could YOU afford to pay 60% more per month from what you're paying now?
I don't think you can point the finger at any one person. Clinton's administration actually pushed through some of the changes that started the whole subprime lending fiasco.
I think having your mortgage go up 60% in a short period of time is incredibly frightening. That's a huge reason why we've never chosen an ARM loan.
How about the huge influx of predatory lenders? How about the fact that over 80% of new mortgages were considered subprime after Bush came into office?
Our mortgage went up 60% in 13 months. Could YOU afford to pay 60% more per month from what you're paying now?
Who took out those loans Sandi? Bush? If I had a mortgage that had the potential to go up 60% I would continue to rent. Period. If lenders make poor business decisions that's on them, not the president.
I don't think you can point the finger at any one person. Clinton's administration actually pushed through some of the changes that started the whole subprime lending fiasco.
I think having your mortgage go up 60% in a short period of time is incredibly frightening. That's a huge reason why we've never chosen an ARM loan.
Location: So let them talk about us, let them call us funny things, people sometimes do. I dont care as long as you know I love you. Oh, and you know I do
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You can't blame the consumer for buying more house than they can afford or not being able to pay their own mortgage either. 80% of new mortgages during that time period (that I was referencing by associating the time with Bush's administration) were subprime - adjustable rates, balloon payments, you name it. It was the epitome of predatory lending.
Were we stupid for signing those papers? Sure. Is hindsight 20/20? Always. We didn't grasp the full scope of an adjustable rate mortgage when we bought that house, closing three days after we were supposed to, while a moving truck sat in our driveway full of our stuff. Yeah - we read the 3,792 pages too quickly. Yeah, we did it differently the next time.
We had no reason to think that we wouldn't be able to refinance during that time. We had no reason to think that our mortgage would adjust so much, so frequently when the lender we had went belly-up for lying to the agencies that insure it about other mortgages they gave out.
But, bull**** that it's because people buy more house than they can afford. You cannot only hold the home buyers responsible.
You can't blame the consumer for buying more house than they can afford or not being able to pay their own mortgage either. 80% of new mortgages during that time period (that I was referencing by associating the time with Bush's administration) were subprime - adjustable rates, balloon payments, you name it. It was the epitome of predatory lending.
Were we stupid for signing those papers? Sure. Is hindsight 20/20? Always. We didn't grasp the full scope of an adjustable rate mortgage when we bought that house, closing three days after we were supposed to, while a moving truck sat in our driveway full of our stuff. Yeah - we read the 3,792 pages too quickly. Yeah, we did it differently the next time.
We had no reason to think that we wouldn't be able to refinance during that time. We had no reason to think that our mortgage would adjust so much, so frequently when the lender we had went belly-up for lying to the agencies that insure it about other mortgages they gave out.
But, bull**** that it's because people buy more house than they can afford. You cannot only hold the home buyers responsible.
You can't blame the consumer for buying more than they can afford?? Whose fault is it then? Is it Bush's fault that you didn't understand what you were signing or that you read too quickly? How is it NOT the home buyers responsibility to look out for their own finances? No one else is going to do it.
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