Banks did not do it to us.

[LilOlLady]

BANKS DID NOT DO IT TO US.

Banks did not do it to us. We did it to banks by over extending ourselves by buying homes we could not afford. By living beyond our means on credit card we could not make payments on. We did it to banks. Now we expect banks and the federal government to bail us out. Big plus blame is our jobs left the country, left us jobless without income to make mortgage and credit card payments and to support businesses with buying power and leaving them bankrupt and more Americans jobless.
Banks, big businesses and wall street did not do it to us. We did it to our selves with the help of our government and illegal immigration also.
How many illegal aliens defaulted on their mortgages when they lost their jobs and mortgage loans they never should have had in the first place. Now that the goings got bad, they have gone back to Mexico.
Living large is the blame. We living large and businesses living large on cheap illegal labor. We need to get back to basics. Smaller and less government involvement will mean smaller and less government for us. So it that is what we want, we had better get use to it because the right it going in that direction full speed.

 

[Mad Scientist]

Oh really? Read "It Came From Jekyll Island" then get back to us.

 

[Jroc]

[ame="http://www.youtube.com/watch?v=aJpnNVe2d_8"]http://www.youtube.com/watch?v=aJpnNVe2d_8[/ame]

 

[andy753]

I know it was easy to get a mortgage 5 years ago, but could an illegal get one? Seriously?

 

[william the wie]

I know it was easy to get a mortgage 5 years ago, but could an illegal get one? Seriously?

A retarded chimpanzee could have found its name on a mortgage. NINJA (No Income, No Job, App) mortgage loans on non-existent structures were rare but have been confirmed in isolated cases of approved and securitized loans. Admittedly forged signatures and similar types of fraud were more common but writing a mortgage for a national of any country is legal. Even an illegal alien is pretty legit compared to a lot of what want on during the bubble. But so long as the ID is legit what difference does nationality make to the mortgage company? Detroit is becoming the low rent district of Windsor ONT, likewise El Paso is a suburb of Juarez just as Tiajuana is a suburb of San Diego. Are a lot of those cross border commuters illegal entrants could be among them.

 

[editec]

WE did it?

That's odd, I don't remember taking anybody's mortgage.

I was under the impression that BANSTERS did that kind of thing.

 

[Bfgrn]

http://www.youtube.com/watch?v=aJpnNVe2d_8

Is there a point to your video? No commentary or editorial from you?

Are you are trying to shine a light on the fact ACORN was at the forefront of fighting against predatory lending and if we had listened to ACORN maybe the subprime fiasco would have been abated?

 

[Intense]

I know it was easy to get a mortgage 5 years ago, but could an illegal get one? Seriously?

Yes, by packing the house with 20-30 people and pooling to meet the mortgage. It is done around here all the time.

 

[Mini 14]

BANKS DID NOT DO IT TO US.

Banks did not do it to us. We did it to banks by over extending ourselves by buying homes we could not afford. By living beyond our means on credit card we could not make payments on. We did it to banks. Now we expect banks and the federal government to bail us out. Big plus blame is our jobs left the country, left us jobless without income to make mortgage and credit card payments and to support businesses with buying power and leaving them bankrupt and more Americans jobless.
Banks, big businesses and wall street did not do it to us. We did it to our selves with the help of our government and illegal immigration also.
How many illegal aliens defaulted on their mortgages when they lost their jobs and mortgage loans they never should have had in the first place. Now that the goings got bad, they have gone back to Mexico.
Living large is the blame. We living large and businesses living large on cheap illegal labor. We need to get back to basics. Smaller and less government involvement will mean smaller and less government for us. So it that is what we want, we had better get use to it because the right it going in that direction full speed.

While I completely agree with your argument (personal responsibility), it is a two-way street. Banks enticed borrowers by qualifying them for loans they could not repay, and extending credit lines far beyond the card-holder's ability to repay.

What I'd like to see is regulation that limits the amount a borrower can qualify for to 2-3 times their annual salary, or the fair market value of their current assets plus whatever it is they are buying with the loan. Or mortgage limits set at 10 years.

The 30 year mortgage is one of the major contributors here, and that started LONG ago.

 

[Bfgrn]

BANKS DID NOT DO IT TO US.

Banks did not do it to us. We did it to banks by over extending ourselves by buying homes we could not afford. By living beyond our means on credit card we could not make payments on. We did it to banks. Now we expect banks and the federal government to bail us out. Big plus blame is our jobs left the country, left us jobless without income to make mortgage and credit card payments and to support businesses with buying power and leaving them bankrupt and more Americans jobless.
Banks, big businesses and wall street did not do it to us. We did it to our selves with the help of our government and illegal immigration also.
How many illegal aliens defaulted on their mortgages when they lost their jobs and mortgage loans they never should have had in the first place. Now that the goings got bad, they have gone back to Mexico.
Living large is the blame. We living large and businesses living large on cheap illegal labor. We need to get back to basics. Smaller and less government involvement will mean smaller and less government for us. So it that is what we want, we had better get use to it because the right it going in that direction full speed.

I don't care how 'little' you are or how 'old' you are...you are never too little or too old to learn. You are WRONG.

The Over-Consumption Myth

The Middle Class on the Precipice
Rising financial risks for American families

 

[mudwhistle]

WE did it?

That's odd, I don't remember taking anybody's mortgage.

I was under the impression that BANSTERS did that kind of thing.

I also don't remember us changing the lending regulations in 2007 ether, making it next to impossible for some people that got into an ARM to refinance when their 2 or 3 year fixed period ended.