| and they are certainly not victims. I think of the dozen or so morons I work with/know who have households with 2 working adults and a combined income from 60-120K, bought a 400K house, and can't make the payment when the variable rate adjusts, cant afford the light bill, insurance, etc, etc...they also can't afford the gas guzzler car they bought with the down payment that came from their HELOC. People don't get that they are not entitled to stuff they can't afford. You have to earn it. Violations of simple common sense led individuals down this path. Yes, banks should have known better but people should have also. Common sense told me to stay in a house I could afford. The only victims in this are people who made good choices and will end up paying up for all the bad choices.
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