[4RE KLR]

I agree with that to some extent.

It is time to pay for those who bought ten houses in the same development betting on the come.

I really think those people knew what they were doing as they did it SOOOOO many times.

The homeowners on the other hand (I feel) were hornswaggled into something they may not have understood. Believe me I sat at many of settlement table and they had no idea what they were signing.

On one occasion I specifically asked the Title Company rep to explain what type of loan this was because I felt the older couple were being taken advantage of. I tried to talk them out of this type of loan. She told us all she had no idea what would happen on this loan in 30 days. The loan was a "fixed rate" for the first 30 and then adjusted every two weeks. It was VERY heavily marketed as a "fixed Rate" because it started out "fixed" for the first 30 days.

To me that is FRAUD!

Withing three months the home was for sale and it was foreclosed on within seven months. The interest rate jumped 3% the first 30 days 3% the second thirty days and 3% the third 30 days. The house payment more than quadrupled. Now I know for a FACT that these people DID NOT understand the loan they signed. I do admit they should have listened and or should have hired an attorney. I tried my best to get them to not sign this loan. They just did not understand what they were getting into.

The mortgage broker misled them. Plain and simple. They are now suing the mortgage company and I may be called to testify. I will tell the court the truth. They were misled.