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Originally Posted by Queen
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.
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I agree 100%, this is exactly what happened to me. Not making excuses, it was just a matter of lacking experience in dealing with these kinds of things..
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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.
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Agree again, the problem is a lot of the predator lendors are going out of business at blazing speeds. Bankruptcy protects them, but leaves their victims holding the bag.....
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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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Wow 3 in a row!!!
