Re: What I learned today while waiting at the barber shop

Posted by Hotflashjr on October 09, 2008 at 05:00:05 from (199.144.35.21):

In Reply to: What I learned today while waiting at the barber shop posted by dave2 on October 09, 2008 at 02:03:17:

I work in Ag Lending and I would agree that the original appraiser was an idiot, and that the people that agreed to the mortgage on that inflated value were idiots as well. If you know you can't afford a $2,500 per month mortgage payment, you shouldn't borrow the money regardless of what the bank is telling you. Then you really shouldn't go buy a huge new truck, 3 horses, a J.D. tractor twice the size of what you need, and a BMW SUV. There's enough blame to go around, but prudent individuals should have known better.

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