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10-18-2007, 11:30 AM
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Are you a victim of the subprime crisis?
I'm a freelance writer seeking people who are struggling with subprime mortgages in the Tacoma/Pierce County area for a story for a major publication. If interested, please email me your details to jontalton@yahoo.com
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10-19-2007, 10:38 PM
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Quote:
Isn't that a loaded and leading question? Victim, like they were forcibly held down and made to sign an adjustable loan  They may have been stupid and done it, but that's not being a victim, unless they are a victim of the school system.Having said all of that, I had signed up for 20 ARM loans in 2005 (10 houses with 2 loans each). They were totally suicidal, but I was hoping for appreciation and I bailed out as the market started to turn in late 2006 and early 2007. I have alot of insight on the crookedness among the realtors, lenders, appraisers as well as the buyers greed. Victims......not......greedy and stupid.......yes Tony
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10-20-2007, 01:04 AM
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Did You Gamble on a Sub-prime Loan and Loose?
If one is a "Victim" then someone must be a "Victor"
For some, the downturn in Real Estate has been a disaster and I also know several families that have benefited from sub-prime loans to realize the dream of home ownership. I remember when the papers were full of stories about hard working families being denied the opportunity for their shot at the American Dream due to strict loan underwriting standards and how unfair it was that lenders would not take a chance on these hard working people. One story said, "The only way to get a loan is to prove that you don't need one!" No one "Forced" anyone to take out a sub prime purchase money loan. I personally paid a premium to get a fixed rate loan because I very conservative fiscally. I think it is more intellectually honest to sate the question as: "Did you gamble on a sub-prime loan and loose?"
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