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Reply #119: If any of these lending institutions [View All]

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truth2power Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-28-07 01:00 PM
Response to Reply #89
119. If any of these lending institutions
allowed people to take out mortgages and didn't qualify them, that's predatory, IMHO. I would think these lenders would have some sort of fiduciary duty to lend money responsibly.

No, it's not ONLY Wells Fargo. But I think they jumped on the bandwagon, along with others, to make a fast buck and weren't worried about the human cost. I don't know how long you've owned your home, but you're lucky you have a fixed rate and aren't being victimized by this insanity.

BTW -- also in my county paper, under Civil Suits, is almost an entire page of various banks filing against individuals. "Summons and copy of complaint issued." I guess these are the properties in the pipeline, so to speak, many of which will proceed, eventually, to the sheriff's auction block.
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