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Finances are incredibly confusing, the reason I go to a doctor, dentist, financial planner, mechanic...is because that is their area of expertise, not mine. People who say "stupid people should have known better" need to consider this, just because you know about a topic doesn't mean everyone does.
I think the predatory lenders should be hung out to dry, even the borderline ones. I think the homeowners who were duped by predatory lenders should be offered a shot at a fixed rate that they can manage OR be allowed to hand the house over to the predators and walk away without yet another hit to their credit status.
All that being said...the greedy folks who got normal (non-predatory) loans and waaaaaay overextended themselves, live off of credit cards, and generally show poor skills at managing their money...tough, live and learn.
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