Reply #11: I thought about this for a long time to and came to another conclusion [View All]

[onethatcares]

alot of the folks that bought into the bullshit of no money down, intrest only loans were starting out and even if they made 14.50 an hour and some overtime, they thought that one of those mcmansions looked alot better than a one bedroom apartment so they filled out the loan application, got approved and promptly lost their jobs when the shit hit the fan.

Bye-bye house, bye-bye credit rating, bye=bye hopes and dreams.

I don't see many prosecutions for individual home transactions, but I do see some for folks that learned to game the system using friendly realtors, bankers, and mortgage brokers.

The gravy train done run out for the first folks.