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<blockquote data-quote="menotyou" data-source="post: 873117" data-attributes="member: 24535"><p>They shouldn't have had those homes to begin with. If they had gone to a bank 10 years prior with the same details(pay, credit score, ect..), they would not have qualified. You had people making $2000 a month living in $200,000 homes. When the balloon payment came, they couldn't afford it. Bad loans, bad loan managers and greedy people equal a housing problem. When they changed the banking laws, everything went to hell. They still have the potential to go back to that because no one has fixed the problems.</p></blockquote><p></p>
[QUOTE="menotyou, post: 873117, member: 24535"] They shouldn't have had those homes to begin with. If they had gone to a bank 10 years prior with the same details(pay, credit score, ect..), they would not have qualified. You had people making $2000 a month living in $200,000 homes. When the balloon payment came, they couldn't afford it. Bad loans, bad loan managers and greedy people equal a housing problem. When they changed the banking laws, everything went to hell. They still have the potential to go back to that because no one has fixed the problems. [/QUOTE]
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