The short answer is that liar loans played a major part in the housing crisis. Our investigation shows how liar loans became part of the house of cards that collapsed on Americans, forcing so many out of their homes. So who is to blame? Politicians and many bankers say it’s the homeowners’ fault, they were greedy. Now, two experts point the finger directly at brokers and lenders who packaged the loans. Worst of all, our experts say that while families lose their homes, none of the bankers that cooked the books have been held accountable. See on tape the confession of a mortgage lender .
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I, too just stumbled across your blog for the first time. Your blog posts are very interesting and thought provoking!
To think we bailed them out of their own lies! Now that’s a shame!
Liar loans = no doc loans …in one sentencing i had a federal prosecutor blame the crisis on the defendant which caused the Judge to give him a little dose of reality and he said that crisis started wih the banks enabling the behavior knowing what was going on….look up a lawyer by the name of stern in florida!
Pretty nice post. I just stumbled upon your blog and wanted to say that I have really enjoyed browsing your blog posts. In any case I’ll be subscribing to your feed and I hope you write again soon!
just left a condo that I rented from a man in his early 30′s who lives in San Diego. When he purchased this condo back in 2005 It was his first home ever bought and he rented it out. Furthermore, he even rents himself. He bought it for a staggering $182,000. Now it’s worth less than $60,000.
He is not alone, nearly every address I looked up on the county assessor’s web site within the surrounding units were form out of town. Plus, nearly all of them were purchased at or above $200,000. It will only be a matter of time before these people will get tired of paying mortage and just walk away. Looking forward to your next video.