Andy, It is all stemmed from fair housing nonsense which mandated standards be lowered thereby allowing people who really shouldn't be buying a house just yet to get a house.  Thanks to Bill Clinton.

Hi Andy,  I think your right ..I have had a same situation a consumers losing their home to foreclosure ( because they don't like the location) and is trying to rent to own one of my listings  Go figure........and you wonder why the mess......

It seems people llike you said ...don't have anything to loose or maybe..not a clue !!!  The people that have the good credit scores are more cautious and want to protect the hard work it took maintaining that good credit scores.  I have found and certainly you  have experienced.  Buyers expecting ( almost demanding we know the answers and can find the remedy for the financial problems they themselves have created.  Oh......the tales of woe...........

We agree.  I just don;t know where and how it ends.  I think the same thing is true of the corporate bailouts, the same guys end up in charge of these or other companies and, they too, end up doing the same thing they've always done.

Bad borrowers are bad borrowers, whether they;re individuals or corporations.

Hi Andy,  I think your right ..I have had a same situation a consumers losing their home to foreclosure ( because they don't like the location) and is trying to rent to own one of my listings  Go figure........and you wonder why the mess......

It seems people llike you said ...don't have anything to loose or maybe..not a clue !!!  The people that have the good credit scores are more cautious and want to protect the hard work it took maintaining that good credit scores.  I have found and certainly you  have experienced.  Buyers expecting ( almost demanding we know the answers and can find the remedy for the financial problems they themselves have created.  Oh......the tales of woe...........

We agree.  I just don;t know where and how it ends.  I think the same thing is true of the corporate bailouts, the same guys end up in charge of these or other companies and, they too, end up doing the same thing they've always done.

Bad borrowers are bad borrowers, whether they;re individuals or corporations.

Andy, It is all stemmed from fair housing nonsense which mandated standards be lowered thereby allowing people who really shouldn't be buying a house just yet to get a house.  Thanks to Bill Clinton.

I don;t disagree and I think that plenty of otehrs had a hand in this.  CRA was Jimmy Carter's brainchild and it was expanded in the 90's  The expansion demanded lending in areas where there were very few, if any, qualified borrowers under the then in existence guidelines.  So, what to do?  They changed the guildelines.

After making it so much easier for people to borrow money, only a politician could be surprised that they didn;t pay.

To my mind, all such situations can be traced back to Washongton DC and, we taxpayers now have the same people who caused the problem charged with finding the cure.  My breath will not be held.

Aloha Andy,

What you say applies to a lot of the borrowers but what about those who had an arm, where making their payments all along and not their interest rate has gone up to where most people could not afford to make the payments.

Aloha Andy,

What you say applies to a lot of the borrowers but what about those who had an arm, where making their payments all along and not their interest rate has gone up to where most people could not afford to make the payments.

Aloha Andy,

What you say applies to a lot of the borrowers but what about those who had an arm, where making their payments all along and not their interest rate has gone up to where most people could not afford to make the payments.

I understand your point and I wasn't speaking about those people but, let me say "what about them"?  Was the increase in interest rates a surprise to those people or did they know about that when they signed the loan docs?

I hear what you're saying and I know that not all cases are the same but, I would like some individual responsibility - from both the borrowers and form the people who decided to lend them the money this way.