Comments on: Do borrowers share responsibility for the financial crisis? http://www.goodhonestdollar.com/do-borrowers-share-responsibility-for-the-financial-crisis Discussion about ethical issues relating to business Wed, 31 Aug 2011 15:10:53 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Andrew http://www.goodhonestdollar.com/do-borrowers-share-responsibility-for-the-financial-crisis#comment-753 Andrew Thu, 16 Oct 2008 21:42:12 +0000 http://www.goodhonestdollar.com/?p=122#comment-753 Tina, Please accept my apologies for the misstatement of your name above. Tina,

Please accept my apologies for the misstatement of your name above.

]]> By: Andrew http://www.goodhonestdollar.com/do-borrowers-share-responsibility-for-the-financial-crisis#comment-752 Andrew Thu, 16 Oct 2008 21:11:32 +0000 http://www.goodhonestdollar.com/?p=122#comment-752 Hi Tim, Welcome to Good Honest Dollar and thank you for your comment. Congratulations upon your refusal to work with clients on a basis which would not have been viable for them. I wish more real estate professionals would follow this practice. Hi Tim,

Welcome to Good Honest Dollar and thank you for your comment.

Congratulations upon your refusal to work with clients on a basis which would not have been viable for them. I wish more real estate professionals would follow this practice.

]]> By: Tina McAllister http://www.goodhonestdollar.com/do-borrowers-share-responsibility-for-the-financial-crisis#comment-743 Tina McAllister Wed, 15 Oct 2008 16:04:03 +0000 http://www.goodhonestdollar.com/?p=122#comment-743 I have to agree with your post, Andrew. I worked in real estate for years and had clients who wanted to buy the more expensive house just because they "qualified" for it with the lender. But I would point out their actual monthly income and expenses to show that, no, they couldn't afford the home. I refused to help clients who insisted on spending more than they could truly afford. I also know first-hand people in CA who gambled on neg-am loans and are now complaining about the evil lenders who put them in this horrible financial situation. Uh, you gambled and you lost. Sorry..but that's what gambling is all about - risk! Great post! Tina McAllisters last blog post..<a href="http://tinamcallister.com/http:/tinamcallister.com/the-curse-of-perfectionism/" rel="nofollow">The Curse of Perfectionism</a> I have to agree with your post, Andrew. I worked in real estate for years and had clients who wanted to buy the more expensive house just because they “qualified” for it with the lender. But I would point out their actual monthly income and expenses to show that, no, they couldn’t afford the home. I refused to help clients who insisted on spending more than they could truly afford.

I also know first-hand people in CA who gambled on neg-am loans and are now complaining about the evil lenders who put them in this horrible financial situation. Uh, you gambled and you lost. Sorry..but that’s what gambling is all about – risk!
Great post!

Tina McAllisters last blog post..The Curse of Perfectionism

]]> By: Andrew http://www.goodhonestdollar.com/do-borrowers-share-responsibility-for-the-financial-crisis#comment-731 Andrew Tue, 14 Oct 2008 21:37:41 +0000 http://www.goodhonestdollar.com/?p=122#comment-731 Brad, Isn't it funny how the 'herd' mentality can influence decision making, even when people are faced with decisions which can have an impact on their families for decades? Andrews last blog post..<a href="http://www.goodhonestdollar.com/socially-responsible-investing-part-9-does-ethical-investing-compromise-investment-performance" rel="nofollow">Socially Responsible Investing part 9: Does ethical investing compromise investment performance?</a> Brad,

Isn’t it funny how the ‘herd’ mentality can influence decision making, even when people are faced with decisions which can have an impact on their families for decades?

Andrews last blog post..Socially Responsible Investing part 9: Does ethical investing compromise investment performance?

]]> By: Brad Shorr http://www.goodhonestdollar.com/do-borrowers-share-responsibility-for-the-financial-crisis#comment-725 Brad Shorr Tue, 14 Oct 2008 11:33:31 +0000 http://www.goodhonestdollar.com/?p=122#comment-725 Hi Andrew, The circumstances of these junk loans vary quite a bit, I think. Some borrowers clearly went into these deals with their eyes wide open, others did not. But another factor was that everyone else was doing it. In some areas of the U.S., like California, crazy real estate deals became the norm. Brad Shorrs last blog post..<a href="http://www.wordsellinc.com/blog/communication-skills/do-you-have-a-pet-phrase/" rel="nofollow">Do You Have a Pet Phrase?</a> Hi Andrew, The circumstances of these junk loans vary quite a bit, I think. Some borrowers clearly went into these deals with their eyes wide open, others did not. But another factor was that everyone else was doing it. In some areas of the U.S., like California, crazy real estate deals became the norm.

Brad Shorrs last blog post..Do You Have a Pet Phrase?

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