Quote:
|
Originally Posted by B-Line
Yes, I read it. And while I don't agree with the criminal activity of some lenders and brokers, I still don't see how that correlates to the risk of homeownership being transfered to the bank.
And, if the bank does assume any losses, than shouldn't they be able to dictate when and if you CAN sell at that time.
Real Estate always bounces back. If you sell now or did some stupid financing, you may get crushed. But if you hold on long term, you'll see a return on investment..
|
Hmm, how to answer this. The risk is of the value, not home ownership. That line seems to keep getting blurred in this thread.
I'm pretty sure any bank hopes that if you sell your home you make enough to cover the loan 
So lets see, with this logic, the alternative to having lenders be accountable to the customer they granted a loan to, based on the value they set for the asset..we'd rather have government bail outs.
__________________
An unwavering defender of those I see worth protecting.
"promote the general welfare, not provide the general welfare"
We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.
|