Question by Sean: Did some mortgage companies dupe people into buying more home than they could afford or to refinance?
Granted you’re supposed to do your own research but what happens when a mortgage company convinces you that your fears and your worries are unfounded. Many people did have reservations about refinancing and purchasing homes with these sub prime mortgages, however these lenders really made it their business to prove it was a good move. Why would you take advantage of people regarding something this serious?
Jessica: looks like you were absolutely right! lol Good call.
Answer by Jessica
Yes, that is the issue. That is why they are called predatory lenders. However, just wait you will get a lot of “answers” placing 100% of the blame on the homeowner.
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