Commanders Post at The Warpath - View Single Post - Understanding The Issues: Subprime/Housing Crisis

onlydarksets · 06-20-2008, 09:18 AM

I think I agree with McCain, as well, with one exception.

As others have said, there is not too much sympathy for those people who bought a $750k house while making $60k/year. That just doesn't pass the sniff test.

However, I do feel for people who were talked into refinancing houses with subprime loans when they already had affordable mortgages on. These were often cold-calls to the elderly and the lower-middle class, and there is a lot of evidence that these people were lied to verbally and hurried through the process to avoid detection.

06-20-2008, 09:18 AM	#4
onlydarksets Playmaker Join Date: Nov 2004 Location: all up in your business Posts: 2,693	Re: Understanding The Issues: Subprime/Housing Crisis I think I agree with McCain, as well, with one exception. As others have said, there is not too much sympathy for those people who bought a $750k house while making $60k/year. That just doesn't pass the sniff test. However, I do feel for people who were talked into refinancing houses with subprime loans when they already had affordable mortgages on. These were often cold-calls to the elderly and the lower-middle class, and there is a lot of evidence that these people were lied to verbally and hurried through the process to avoid detection. __________________ Stop reading my signature.