Originally Posted by donkhater
I find it interesting that it is all of a sudden 'news' that when a large number of people are unemployed that a rise in foreclosures follows.
It stands to reason that if you borrowed money for a house and you lose your source of income you are likely to be foreclosed on. That doesn't make the lender immoral or evil. And it doesn't necessarily make the borrower unresponsible. And it certainly doesn't mean that taxpayers should be left holding the bill.
I would suggest that people use this as a learning to not take out loans to purchase things they can't afford and to manage their finances to manage these not-so-unlikely scenarios.
If only those who govern us could grasp this~
It would indeed be a tragedy if the history of the human race proved to be nothing more than the story of an ape playing with a box of matches on a petrol dump.
David Ormsby Gore~