Pacesetter - you are included in the thousands who were allowed to "over finance" a home. In the past several years we sold homes in the very high 6 figures to people who, believe it or not, did not make down payments. To make matters worse some of them got what is called "stated income" loans - that means you just tell them what you make. Many of these buyers were well educated professionals who are now claiming they were among the less educated folks who didn't know better.

Chas- I am astonished about your remarks concerning the "old men" who hang out here. You best get down on your hands and knees and thank the good Lord that the "old men" here were around in 1941. And exactly what do you find offensive about the good old American ideals of working hard for what you have? You bet I passed on these ideas to my kids and if the country is going to survive I hope they do the same.

As for Madoff - those are the people our government should be helping - the thousands who expected to retire and will work til they die. Those are the folks I feel compassion for.

Still a great thread

Hammer

[This message has been edited by hammer (edited 02-13-2009).]