Okay the government has now decided that people who got over their head in housing debt, deserve a governement program to let them avoid what they agreed to.
I agree that if fraud was committed, those who committed the fraud should be punished and their victims should be helped. The most predatory lender I ever personally ran into is still actively advertising nationally on radio and TV.
2 years ago we were being told that credit scores were unfair and that whether a borrower paid their bills was irrelevant. So lenders made loans to those people. Now when surprise, surprise the payments are actually due, the lenders who bowed to pressure and made sub-prime loans are being painted as the bad guys.
There is no free lunch. I would like my own private 737, but if I don't make the payments, somebody will reposess it and shame on the lender who takes a bath for making the loan.
Your comments are welcome.
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