Subprime Lenders: They're despicable. I hate them... Who's Accountable? - 11/16/07 01:37 PM
I read today in the Poughkeepsie Journal that NY Senator Charles Schumer is blasting banks and mortgage lenders who have provided homebuyers with subprime loans. 
Mr. Schumer denounced "shocking rate increases and other tricks that leave borrowers...unable to pay.  Most people don't read their mortgage documents and can't be expected to."  He continued, "It's astounding.  They're despicable.  I hate them..."
This raises an important question about who is responsible for an individual's inability to pay their mortgage.  While there is no doubt that there have been some shady brokers and lenders who would sell their soul for a higher commission check, the full blame cannot … (9 comments)

 

Brett Young | Ulster County Real Estate | New Paltz Real Estate

New Paltz, NY

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High Ground Realty

Address: 20 Milton Avenue, Highland, NY, 12528

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Commentary about New Paltz Real Estate and Ulster County Real Estate. Also focuses on best practices in the real estate industry as a whole.


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