It comes down to people got property they knew they couldn't pay for or had to finance at an interest rate or certain type of loan because of bad credit initially. Enter corrupt loan brokers and appraisers and you have this situation. In my area alone I have seen 16 loan brokers get prison time in the last 2 to3 years. It's sad to say this but the borrowers are explained the details of a loan completely before securing the loan therefore they are responsible unless some crime outside of their control has been committed.

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