Posted On: August 22, 2007, 9:14 pm CDT

Posted By: Dodger

I don't see how this is anyone's fault but the homebuyers. I purchased a foreclosed home 4 years ago in a neighborhood where there were more sale signs in the yards then children playing. One by one the sale signs left and lockboxes were installed by the bank. The homebuilder told people that you could afford a new house for the price of rent. Are people this stupid? Should lenders, homebuilders or anyone else be to blame? Why? This is just another example how people want to make poor decisions and then have someone else pay for their mistakes.

And don't laugh at the plasma TV, new car, 45K on the credit card. I would inspect mobile homes that people were paying over 20% interest on. They would have the big screen tv, pure bread dogs (multiple), new cars and everything else most people would like to have. But in the same hand they could not come up with a few hundred dollars to seal their metal roof so the thing wouldn't leak. When the loss was not covered they wanted to claim they were getting screwed.