While it’s true that mortgage brokers origninated tons of subprime loans, it was only possible because the Banks sponsoring HopeNow and Project lifeline spent many happy afternoons OFFERING all those lovely subprime loan programs and APPROVING all those loans. And because approvals and new mortgage products were being dolled out by the Banks, anyone who could fog a mirror got themselves a real estate license.

Well, most of those substandard agents have quit real estate to wait tables anyway. The ones left are the true professionals who know what they are doing. It’s just sad that homeowners are left to their own devices now with no one to help but these so called counselors in the HOPE Now and Project Lifeline circus.

In any case, former “a$$holes” can redeem themselves by doing their homework and advoating for the homeowner in ways that the banks and Hope Now will not. Don’t force homeowners to stay in upside down loans. Stop trying to take out more equity to cover bills. 2008 will be the year of Survial of the Cleverest in real estate.