Larry, > How many of them could produce documentation? I would not be > surprised if they were primarily no doc loans... and now we > have to bailout the banks that gave them.
No doc loans were primarily given to those with good credit, not bad credit. I myself got a no-doc loan on my home. I'm not living in it because of a whole host of issues that began with our contractor walking out and the lender freezing our funds. It was not because of it being a sub-prime loan or because it was unaffordable at the time we took it out. Of course, now that we've been charged for over a year's worth of interest on a house that we are unable to live in or finish, we have a big problem. It would be easy to blame the problems on minorities making bad loans or illegal immigrants taking out bad loans, but that's not the real issue. Certainly there are minorities with bad loans. But there are far more plain old white folks that are having major problems too. The proof is in the numbers of bad loans all over the world and entire COUNTRIES (such as Iceland) going bankrupt. Surely you know there are not exactly a lot of minorities with bad loans in Iceland. Kristyne McDaniel http://www.kristynemcdaniel.com/blog http://www.mcstyles.com/ Whether you think you can, or you think you can't.... you are right. -- Henry Ford _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
