So you mean to tell me that you can't afford a $4,800 a month mortgage when you estimate that you can only afford a $3,000 a month mortgage? Say it isn't so! These people should have had bells going off in their heads when they first heard that the lender was going to help subsidize their mortgage. They wanted to move from a subsidized apartment into a $720,000 home and thought they could do so for only $3,000 a month? Yes, the lender probably should at the very least be investigated for predatory loan practices, but come on, where's the personal responsibility here?
Where's the people saying "well we can't afford this in this neighborhood, so let's look elsewhere"? Common sense people, that's all I'm asking for, but I keep getting example after example of people stretching themselves too thin and then when a disaster hits, they are screwed.
The guy was making $15,000 a year and found out he couldn't afford a $720,000 house. Duh! My wife and I pull in almost 8x as much per year and we can't afford a $720,000 house.
Travis
travis@rightwinglunatic.com
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