Correct – however, I recall reading in an earlier posting that someone was blaming these individuals for the fall of the housing market in the Inland Empire…
Point is: they are not the only loans to go under. Many of these sub-prime loans were taken by people who were young and seen a method to obtain a first home.
I believe the movie “The Devil’s Advocate” states that pride gets them everytime…earlier he knew to use greed to lure individuals – commonly part of his or her own “lusts.” Yes, greed did play a part in many of the decisions to get involved as it does the desire to hit the lotto in many individuals intent in purchasing a ticket – still boils down to greed.
As far as blaming these con-artists (if I may), I believe it was more a point of keep other individuals from entering into the same situation to which they had entered. For example – the Heath case and many others that are yet unknown.
According to the articles, these con-artists are still practicing their arts.
