http://greshes.com/2008/10/02/look-in-the-mirror/ Speaking of Success Fri, 23 Mar 2012 13:13:46 +0000 hourly 1 http://wordpress.org/?v=3.1.2 http://greshes.com/2008/10/02/look-in-the-mirror/comment-page-1/#comment-2915690 MaryEllen Shown Sun, 12 Oct 2008 15:28:57 +0000 http://greshes.com/wordpress/look-in-the-mirror#comment-2915690 <p>AMEN!</p> AMEN!

]]> http://greshes.com/2008/10/02/look-in-the-mirror/comment-page-1/#comment-2904870 Teri Fri, 10 Oct 2008 02:05:38 +0000 http://greshes.com/wordpress/look-in-the-mirror#comment-2904870 <p>Thanks Warren. I would add though, that there were many people who were encouraged by lenders to take on larger mortgages than they could afford. They weren't all million dollar houses. Some were $500,000 and customers should have only qualified for $250,000. Mortgage brokers and bankers made more money if they sold more loans.<br />Then on top of that the same brokers encouraged Home Equity Lines and gave the customer a book of checks that they could use to buy cars, designer clothes or golf club memberships......<br />I could go on and on but we all now see the result as the risk was passed on in nice little packages to others who were looking for higher yield and didn't consider the risk.</p> Thanks Warren. I would add though, that there were many people who were encouraged by lenders to take on larger mortgages than they could afford. They weren't all million dollar houses. Some were $500,000 and customers should have only qualified for $250,000. Mortgage brokers and bankers made more money if they sold more loans.
Then on top of that the same brokers encouraged Home Equity Lines and gave the customer a book of checks that they could use to buy cars, designer clothes or golf club memberships……
I could go on and on but we all now see the result as the risk was passed on in nice little packages to others who were looking for higher yield and didn't consider the risk.

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