What's Your Take? Leave a Comment

  1. Maybe I’m not smart enough to understand that why people like him having been living in the house in Ozone Park for 35 years and still had 368K mortgage before refinance??? Any house in Ozone Park cost over 350K in 35 years ago??? Am I missing something…?

  2. Ok, that NY Post article about predatory lending practices: I think that’s been a lot more widespread than has so far been reported. I’m not sure how you could blame the elderly man who refinanced his home for getting into that mess. The broker received $21,000 and the old man is losing his house? How is that not predatory?

    And I love how the NY Times article on the subprime disaster doesn’t offer any solutions to subprime borrowers who are in trouble except to refinance with an interest only loan!! Isn’t that how we got into this mess in the first place? What insanity.