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Ouch - subprime mortgage foreclosures in a dope image
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[QUOTE]Originally posted by Jdub07: [QB] [QUOTE]Originally posted by 2stangs69-91: [qb] There is more than just ignorance going on. Just look at the massive numbers of Bank owned homes. Yes some is ignorance some was fraud. It is all bad. How in the world do all these people get approved for loans then bail 5 years later? Most have the same jobs they had when they applied. We haven't even started talking about the seconds people took out when the market was still climbing.. [/qb][/QUOTE]In answer to your question on how they were approved for loans 5 years ago is simple. Banks were taking people word on what they made per year. They weren't doing the full blown backround checks they are today...there wasn't time. Also in the rush as you said many people got fooled, taken and ripped off. Very sad for many families. [/QB][/QUOTE]
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