Quote:
Originally Posted by EscortBiz
People lied end of story the signed that they didnt lie, why the fuck would a bank think a person would buy a home with a 3500 monthly loan if they cant afford it, but no people tried to look good and where thinking like idiots.
Its their fault not the banks!
Is it the banks fault too when people rack up their credit card bills?
Think normal and its not a time to say things to stick up for these short term people who destroyed this economy
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Well, you have no clue what you are talking about..
When we purchased our first home a few years back, we had the credit, the money, the cash. First, it was them, that wrote down I was an employee and not the owner of my Company. If I said I was the owner they would want Corp docs and History too. I tried to be honest, they wouldn't let me.
The first people we did the loan through tried to force us into a 80/20, even submitted the application that way, when we didn't want it. They lied to us, telling us we could only get the house if we got this jacked up loan.
After a bit of going at it, I think finally with a different lending company, we got the standard fixed rate mortgage.
The house I'm in now, same deal. The lenders/bank tried to push us into a interest based loan, when we make more than enough. It was pitched, this is probably the only way you will get approved.
People may have wanted a house, but the lenders/banks totally screwed and lied to the people.