Quote:
Originally posted by djmcmath
Greed.
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because they can get bailed out by the feds, and if the people default on the loan, the bank keeps the house and all the money they have been paid. They just had an auction of over 100 homes in this area that were bank repo's. My buddy's brother in law is about to lose a house because he was sold a house by a realtor/finance guy who did the inspection, acted as realtor and lined up the financing(some crazy ARM, interest only deal)
Lot of shady characters got rich on real property in the last 10 years