Mark I'll bet dollar to donuts that these alleged crimes were never put on paper. Sure some low life may have told someone they could afford it but they never wrote down or put that language in a contract.
And most of the balloon mortgages were on homes that sold for 250,000 or more. The poor were not buying homes that ran 250,000. Most of those who were foreclosed on started out with monthly payments around 750 to 1500 or more on homes that started at 250,000 and went up from there to some over a million. When the balloon came due those payments jumped to 2500 or more. Most of the working poor who were suckered in were on the hook for 60-100K on fixed rates. Just cause the news media claimed that it was the poor doesn't make that the truth. And just because someone is poor doesn't make them stupid. Most of the poorer people I know are anything but dumb, most just made poor life choices. I know more than one couple that had a kid when they were still kids, got married and blew any opportunity to get an education. Doesn't make em dumb. Heck my wife and I started out that way. Then we started making better life choices. Doesn't make me any better than those who never recovered from bad decisions, just luckier. Many of those poor people who were public assistance jumped at the chance to own a home never thinking that their income may be reduced because of government cuts. A poor choice. And seeing that many of those people are not stupid they should not have been sucked in. But then a terrible thing jumped in there.......GREED! Yes, even poor people are effected by the green monster!
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Today's Featured Article - Tuning Up Your Tractor: Cooling and Fuel Systems, Hoses and Belts - by Curtis Von Fange. Our tractor is coming right along. The old oil and filter has been taken to the recycler and the air filter replacement has breathed new life into our motor. Let's take a closer look, now, at the cooling system since it has to work so hard in the summer heat. Cooling systems can be real cantankerous in their old age. Radiator cores clog up with rust, lime or other mineral deposits and the fins clog up with weed seeds and debris. The metal headers slowly corrode away from years of use and
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