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When we bought our current home about ten years ago we sat

Posted on: February 19, 2020 at 21:48:08 CT
DHighlander NWMSU
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down, looked at our expenses and decided how large a mortgage we could afford. When we went to the bank and got pre-approved they came back with a number almost twice what we had decided. We said no thanks we just want what we budgeted for, I’m sure there are many people who get in way too deep by listening to advice from lenders.

But who is at fault here? The lenders for offering it or the borrowers who make bad decisions?
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Why should student debt be cancelled? Were those loans - hefeweizen MU - 2/19 21:27:26
     I'm scrimping to pay my kid's college plus saving for the - TigerFan92 MU - 2/19 21:53:23
          BTW how do these kids get loans without their parents signin - TigerFan92 MU - 2/19 21:59:09
               when i went to school - meatiger MU - 2/19 22:02:47
     not forced on them - meatiger MU - 2/19 21:34:45
          RE: not forced on them - MOCO SON MU - 2/19 21:44:15
          Why shouldn't it have been given to them - Sal MU - 2/19 21:39:07
               Because it was bad debt(nm) - meatiger MU - 2/19 21:40:24
                    How can a lender determine - Sal MU - 2/19 21:41:05
                         I am not sure how meat believes the process should work - 4TigersinMichigan MU - 2/19 21:42:30
                         they do it every day - meatiger MU - 2/19 21:42:10
                              They borrowed the money, they should pay it back not - TigerMatt STL - 2/19 21:47:11
          Screwed over by allowing them to borrow money?(nm) - hefeweizen MU - 2/19 21:37:39
               yes(nm) - meatiger MU - 2/19 21:39:16
                    But it would be racist and sexist to deny them. (nm) - hefeweizen MU - 2/19 21:40:41
          Who forced them to take loans to pay for an education - 4TigersinMichigan MU - 2/19 21:36:11
               When we bought our current home about ten years ago we sat - DHighlander NWMSU - 2/19 21:48:08
                    RE: When we bought our current home about ten years ago we sat - meatiger MU - 2/19 21:56:15
                         I somewhat understand those laws. If I default on a house - DHighlander NWMSU - 2/19 22:04:52
                              I say if a person defaults on student loans their organs - Emoji Man MSU - 2/20 02:23:16
                              and then the housing crisis - meatiger MU - 2/19 22:10:42
                                   No doubt that the banks got swamped by foreclosures but - DHighlander NWMSU - 2/19 22:29:16
                    Yep - 4TigersinMichigan MU - 2/19 21:49:08
               Actually yes - meatiger MU - 2/19 21:38:58
                    Oh, they weren't told what a loan means? (nm) - hefeweizen MU - 2/19 21:43:39
                         RE: Oh, they weren't told what a loan means? (nm) - meatiger MU - 2/19 21:44:46
                              So they should be cancelled because of stupidity? (nm) - hefeweizen MU - 2/19 21:46:10
                                   RE: So they should be cancelled because of stupidity? (nm) - meatiger MU - 2/19 21:47:12
                                        RE: So they should be cancelled because of stupidity? (nm) - hefeweizen MU - 2/19 21:50:12
                                             yes i did - meatiger MU - 2/19 21:51:02
                                                  And you want them cancelled. Just admit it(nm) - hefeweizen MU - 2/19 21:52:36
                                                       Not at all - meatiger MU - 2/19 22:00:59
                                        Here we go - Sal MU - 2/19 21:48:13
                                             No - meatiger MU - 2/19 21:49:25
                                                  Go after them for what? Expecting to be paid?(nm) - hefeweizen MU - 2/19 21:52:00
                                                       RE: Go after them for what? Expecting to be paid?(nm) - meatiger MU - 2/19 22:11:47
                                                  RE: No - MOCO SON MU - 2/19 21:50:40
                                                       RE: No - meatiger MU - 2/19 21:51:58
                                                            RE: No - MOCO SON MU - 2/19 21:52:34
                                                  What is fraudulent when you are told the terms in advance of - TigerMatt STL - 2/19 21:50:27
                                                  how can it be fraud when it was a voluntary - Sal MU - 2/19 21:49:56
                              That is not the fault of the lender (nm) - Sal MU - 2/19 21:45:23
                    Well, this is where we disagree - 4TigersinMichigan MU - 2/19 21:41:36
                    Have you never applied for a mortgage before? - Sal MU - 2/19 21:40:39
                         Early on I had a real estate agent ask me point blank - 4TigersinMichigan MU - 2/19 21:44:00
                              The bank still had a limit...correct? - meatiger MU - 2/19 21:46:40
                                   I've had banks offer me 4X my income in mortgage loans. - TigerMatt STL - 2/19 21:52:56
                                        Exactly - Sal MU - 2/19 21:55:24
                                             I have done the same - meatiger MU - 2/19 21:58:40
                                                  High schools don't teach personal finance - ashtray UF - 2/19 22:21:04
                                                       agreed(nm) - meatiger MU - 2/19 22:26:44
                                   I agree we should have less money available - 4TigersinMichigan MU - 2/19 21:48:32
                                   RE: The bank still had a limit...correct? - MOCO SON MU - 2/19 21:48:28
                                   Nobody is stating the bank offers an unlimited loan (nm) - Sal MU - 2/19 21:47:18
                                        The government, with the help - meatiger MU - 2/19 21:48:10
                              correct (nm) - Sal MU - 2/19 21:44:46
                         Yes. Many times - meatiger MU - 2/19 21:43:10
                              you really seem clueless (nm) - Sal MU - 2/19 21:45:01
     it shouldn't be (nm) - Sal MU - 2/19 21:32:20
     And we punish those who scrimped, saved, worked - 4TigersinMichigan MU - 2/19 21:30:02
          yep, just like bailing out farmers, banks, - ashtray UF - 2/19 22:32:39
          RE: And we punish those who scrimped, saved, worked - MOCO SON MU - 2/19 21:31:00
     RE: Why should student debt be cancelled? Were those loans - MOCO SON MU - 2/19 21:29:11
     Never understood that(nm) - tigerNkc MU - 2/19 21:28:35




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