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It amazes me that banks are allowed to forclose in these times..I beleive that in the 1929 crash mortgages could not be forclosed...
Banks who lend on poor security should be the ones who pay the price..not the borrower, not the rest of the community when their silly ways destroy savings...
Putting a poor mortgagor in a property is stupid but not when you on sell the poor mortgages to other institutions sold in bundles such that careful security purusal goes unattended ...gross negligence on the part of the purchaser but these deals go together because commissions are made...look to the folk organising the sales and ask are they not deserving of being charged with fraud... lets face it for there to be billions and billions lost the mistake could not be described as casual.... why are these folk not hunted down and where appropriate put away to contemplate the missery they have caused...
Rip up your credit cards their convenience versus the pitfalls suggest one could live without them....
alex
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