Quote:its all parties, the bank for giving the person the loan.  The person who had a job for a short amount of time and thinks that means they deserve a house.  part of purchasing a home is knowing you have job security to afford that home.  Granted many people did have job security before the crisis, but the crisis changed that for some.  Others knew they didn't have job security and went after loans because they knew they could get one even though they knew they couldn't pay for it if anything went wrong.

 

There also are cases where job security was never an issue until that evil mortgage rate went way up. I read about a couple in California who had good full time jobs when they signed for am ARM on a good house. Everything looked good - until the woman got pregnant. Then they could not afford the house anymore and had to raise their baby in a trailer. 

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