December 15, 2010 at 7:23 pm
#709442
Genesee Hill
Participant
maplesyrup:
I agree some of the borrowers are complicit in this mess. There have always been foreclosures and always will be. There have always been economic downturns, some mild, some catastrophic.
However, having obtained mortgages through Washington Mutual, the last in 1997, I can assure you there is NO WAY they would have loaned me money on a home I could not afford back then.
I had NO IDEA that greed completely took over upper management in that company in the mid-2000s. They completely changed their loan requirements.
Having gone through several mortgages with that company is one reason I never sold my WAMU stock. I thought their loans were good ones. Lesson learned!