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Why I don’t think fraud or sub-prime loans are the reason
We see banks folding and buyers being foreclosed on at a rate that hasn't been seen, quite possibly, ever. But, do I think mortgage fraud or sub-prime loans are the reason?
You see, I work with a lot of foreclosures, and the reasons I see for people going in to foreclosure are death, divorce, job loss and injury. None of these have to do with the type of loan someone has.
Yes, I do see the occasional ARM that can affect the ability for someone to pay, but this blog is going out to the mortgage industry. Not saying anything bad about you, but as the owner of four businesses in my life, you need to re-adjust your thinking instead of crying to the government.
I have a few ideas that I think may save you, if it isn't already too late. I do understand that some situations can't be helped when a home is involved. When a death or divorce is involved, there isn't much you can do. But, you can help!
Scenario #1
If someone should die in a family, and that is half the family's income, you know they are not going to be able to keep up with the payments. Help this ... more

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