@allfreechips 178997 wrote:
less than 5% of homeowners are in forclosure, a lot of them are from people with multiple homes, ie house flippers that gut stuck, and of course people who accepted loans they knew were going to be impossible. Note many of these loans were created to fail, ie the seller and the borrower made cash with no intention of living in a home.
Ok, I can see that.
I also heard that only 25% of the sub-prime mess is involved in this whole thing so it goes back to lack of regulation on a lot of things which the GOP hates, but clearly needs to be done.
The US government is okay with telling it’s citizens that we can’t gamble online, but will allow our country to go to hell by allowing this type of stuff to happen. It’s crazy!