Quote:
Originally Posted by Tom Kazanski
That sucks man, I hate to hear that.
Let me ask you this though, do you think maybe we are getting back to where it should be as opposed to the outrageously loose criteria that congress pushed on banks over the past 6 or so years?
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Absolutely !!!! The problem is that the pendulum has swung from one radical extreme to another. As the banks move closer to center with their qualifying criteria, we’ll be exactly where we were 7 to 10 years ago. Lending to people with sensible credit and appropriate income for homes with true & accurate values.
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People look at me and say, "What are you talking about, Joe? You're telling me we've got to go spend money to keep from going bankrupt?" The answer is "Yes,"I'm tellin' ya.
- Joe Biden
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