I work in the real estate and mortgage industry, and I agree with Ron Paul. It’s the artificial manipulation of the market that caused the current mortgage crisis.

Note this: Homeowners with a bad loan are not innocent victims. Main Street doesn’t deserve bail out anymore than Wall Street.

I had many homeowners asked me about refinancing to take advantage of a low 2-year fixed rate, knowing that it will go up, but wanted to take cash out for a vacation and a new car. I explain to them clearly what their payments will be in two years, and tell them not to do it, and do you know what they tell me? “Then I’ll go to another lender.”

I had home buyers who wanted to buy a house with no down payment. I tell them the payment is too high for them. They turn around and use another lender who got them a loan with no money down, no closing cost, AND money in their pocket.

People went to the mortgage lenders who told them what they wanted to hear, and didn’t listen to people like me who told them what they didn’t want to hear.

Some mortgage lenders like myself did not profit from the mortgage windfall.

It’s ridiculous to bail out homeowners who can’t make their payment. No one forced them to buy a home that they can’t afford. No one forced them to take an equity loan out. It was their own greed. They want things now instead of saving up for the future.

People don’t value paying off their homes to live in for their retirement. They live for the moment, then expect government to bail them out, give them social security to live on, and pay for their health care.

What about us honest homeowners who did not go on big vacations, who sacrifice other purchases and eating out every week in order to make their house payment?

Will the government give me $50,000 to pay for the vacation that I didn’t have because I made my house payment instead?

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