Quote:
Originally Posted by baddog
Deregulation came along to allow people to become first time homeowners, and instead they figured they could become real estate tycoons.
|
i am going to be nice here and respect my elders...
many people that got tricked into ARM's, could have qualified for regular mortgages..
mortgage brokers got rich at the expense of the poor and minorities...
yes, there were a lot of speculators that bought with credit they didn't qualify for, but the majority were buying primary residence...