What about the people that lost their jobs? If they still had their jobs, they could still be paying.
Regardless of what kind of loan they had.
You're right, I was wrong to simplify the problem like I did.
Many of these people took on monthly payments that were already more than they could handle, and were bound to lose their homes one way or another regardless...
![Undecided :-\](https://www.getbig.com/boards/Smileys/classic/undecided.gif)
I'm not completely blaming them, but all it would have taken was a little research and not blindly following the mortgage brokers...
Guess we've all learned from this.
"There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — [pauses] - shame on you. Fool me — You can't get fooled again."
-GWB