Thursday, October 21, 2010
The Mortgage Mom Rap About Politics, Stated Income Mortgages, ARMs,Money Down Home Purchases, Mortgage Securitization, Wall Street, Modifications, Broken Promises, Deep Recession, Housing Market Crash And Finally Foreclosure
The lip syncing may not be the best, but the story that this mothers rap tells is one that is being repeated around the country in droves. Should the people who overextended on a home purchase have known better? Should they have known that if a loan sounds to good to be true then it probably is? Should they have know that teaser mortgage rates at some point will become market mortgage rates and that there is something called a default interest rate? Absolutely.
But where are the politicians who were complicit in the scheme that helped create this mess of home ownership for the masses? The Barney Franks and the Chris Dodds of the world...
Read the article and see the video at The Political Commentator by clicking here.