lindlou

Florida Shuns MBIA and Ambac Insurance, Lowering Costs - Housing Tracker

Just one question--if I make a loan to someone who would not qualify for any type of traditional loan in the first place and has no intention of paying on it once it resets, and then I package this loan, label it AAA and pass it on to some other institution who really is being "unfairly targeted" here? Make that two questions, I guess---If I am this individual that gets a loan I really do not deserve and then I skip out on this loan once it resets, how can you call this a "high cost loan"? The loan was most likely very low cost while they were actually paying on it, in exchange for somewhere to live that was alot cheaper than rent by comparison. When it became high cost they walked away. The only people that I can see that are being "unfairly targeted" are the american taxpayers who will pay for this mess for many years to come!