I am beginning to read more and more articles about homeowners that are facing foreclosure or who have already lost their home, suing their lenders and real estate agents for giving them bad advice and purchasing their homes with ARMs. During the time that subprime loans were the craze, many agents referred homebuyers to lenders that could get them approved when other said "No". Maybe they were saying "No" for a reason. I fear for those lenders that didn't offer government loans and specialized in Subprime. Their day is coming.
RE/MAX Premier - Berkeley Heights, NJ
Realtor with "Results That "MOVE" You'
You're right Tanya, lenders should have said no. We wouldn't be in this mess now. However, Buyers also have to take responsibility for their decisions.
Feb 01, 2008 02:35 PM
Epcon Columbia, SC - Columbia, SC
It is a two way street. Still I wonder how many agents were truly fufilling their duty to their clients. In the end, people need to do their due dilligence and take some responsibility for their actions.
Feb 01, 2008 02:37 PM
Coldwell Banker Residential Brokerage, Lancaster PA - Lancaster, PA
Lancaster County PA RealEstate Expert 717-951-5552
Tanya, this nation is getting way too far from the principles of independence and individual responsibility that the country was founded on. There shouldn't be a lawsuit every time someone makes a bad decision.
Feb 01, 2008 02:38 PM
CIDER Properties - Tyler, TX
e-Pro, SFR
I agree. There area alot of people waiting for their opportunity to sue someone.
Feb 01, 2008 03:04 PM
Rainmaker
147,338
147,338
Tanya Redic
e-Pro, SFR
Service Areas
Real Estate Resources
Recent Posts
Home Buying
about 8 years ago
Real Estate Best Practices
about 8 years ago
Local News and Events
about 8 years ago
Comments(4)