“Don’t kid yourselves; the abuses of the few will affect the many”
Yep……Bugs, you are absolutely correct!
Personally, I think a guy who already has an $800k mortgage and is having troubles is going to have to jump through some pretty high hoops to qualify for another $500k mortgage at this time. The other house is already on his credit report and he’s going to have to tell some pretty big lies to explain why he needs another house in the same neighborhood while real estate values are falling like a rock. If he pulls this off and then lets the $800k mortgage foreclose, the long arm of the law may find out about it and then he’s toast. I’m so sick of these damned, white-collar crooks who make things worse for the people who try to live within the boundaries of the law. I hope the SOB gets clobbered!
