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Old 10-11-2008, 06:21 PM
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Default The Death of Direct Sales

Posted By: Todd Schultz

um, yes--here's his exact post:

"<<But, guess what. The people that bought 200K, 300K, 500K, etc houses with no money down, with promises of 2% interest (and don't worry you can refinance when your house is worth 40% more in two years), or by lying on their mortgage applications also deserve a lot of blame.>>

Bull. (I hope that word doesn't offend you.)

Those people were preyed upon by the lenders who knew and didn't care one whit that the loans would be defaulted upon. They made their money up front. And they were the "experts." Can you really blame the uneducated and financially unsophisticated people that believed them?"

He was certainly responding to a claim that borrowers "deserve a lot blame"

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