An End to Liar Loans?

By
Real Estate Agent with Prudential Allstar Realtors 16784

 

An End to Liar Loans?

"mortgage bankers and brokers, hot for commissions, looked the other way when signing homebuyers up for loans that were booby-trapped with balloon payments and escalating interest rates."

In the midst of the mortgage crisis, home buyers were unaware that they were being setup

The gate keepers who should have advised them of the pitfalls, were self-dealing.  

Who were the liars anyway?  Follow the money.  

Certainly, one would not suggest that a home buyer, knowing that he/she was signing up for a loan that was booby-trapped, would move forward with the deal.  

Home buyers were deceived.  

All who have participated in this scam, should be thrown in jail.   

 

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albuquerque real estate

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Albuquerque NM 87110

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Rainmaker
334,378
Jon Quist
LONG REALTY - Tucson, AZ
Tucson's BUYERS ONLY Realtor since 1996

Hard to get a regular loan anymore, much less a liar loan.

Apr 24, 2011 01:46 AM #1
Rainmaker
494,252
C. Lloyd McKenzie
Prudential Allstar Realtors - Albuquerque, NM
MBA - Prudential Allstar Realtors -

This may be an overraction though.  Put all the controls in place and proceed

Oct 26, 2012 05:23 PM #2
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Rainmaker
494,252

C. Lloyd McKenzie

MBA - Prudential Allstar Realtors -
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