Skip to main content

View Diary: Our Economy: MASSIVE FRAUD By Mortgage Industry. (269 comments)

Comment Preferences

  •  Yes, they were steered. (2+ / 0-)
    Recommended by:
    Lestatdelc, Sparhawk

    That's sales and marketing, much like companies sell sugary drinks and fast cars that nobody needs. But in the end, it is the borrower that signs the paperwork. And ARMs are not the problem anymore - low interest rates actually make most ARMs, even subprime ARMs, more affordable, and most lenders will modify a borrower into a fixed rate if that's all that is producing a delinquency. So it is a bit of a red herring.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site