Posted by Dick L on January 08, 2015 at 15:12:32 from (50.54.63.66):
In Reply to: Re: oil speculators posted by Dick2 on January 08, 2015 at 14:33:51:
The banks and mortgage company's do not regulate them selves. The so called schemes are rules that must be followed to qualify for the regulated low interest rates thru the printing of unbacked money so they can loan money. The elected rule makers scream that it is wall streets fault so the voting public will reelect them. Guess what it worked! Offering the low down payment problem that will, as you say, cause the same result. No bank will offer such a deal if they are not going to get guaranty from the regulators that they will have the loan covered or the threat of getting their line of credit canceled. Most of the elected congress people were the ones in school that would pass gas and point to others. They are still using the same method and getting away with it.
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