[quote=SP01715;923617]
Quote:
Originally Posted by jhv48
Well since you live in a wealthy community (I used to own a business in the village in Carlsbad) maybe you should start writing some checks. 
Every person I know that was involved in the real estate and mortgage industry the past five years or so were waist deep in fraud. They were lying on loan docs, buying multiple houses when they could not afford the one they live in, cashing equity for cars, boats, sand rails, exotic pools etc...
I was smart and fixed my two houses that my wife and I worked very hard for at 5% five years ago. I was told I was stupid by these idiots that caused this economic crash (along with the politicians that allowed it) because I did not go with an ARM at 3.5%. Well I guess I was right, but now the socialist government wants me to pay for these clowns? Maybe the government should pay for my stock losses?
These people need to lose their homes and become renters. Let the market adjust on it's own. There will be buyers for these properties and the market will slowly recover. I have had to start over in the past, and I never expected the tax payers to come to my rescue. The liberals / socialist are leading us down the wrong road IMO 
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Those involved in proved fraud should be arrested and jailed. And their assets seized. If some redress from that is available for the victims, GOOD. Otherwise the victims should suffer for their own stupidity, OR their complicity in the fraudulent loans.
Dan