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the borrower about the good and bad aspects when considering such a loan. Sometimes they make sense, but only in dire circumstances.

Having the government taking over lending will only increase the problems, not fix them. There should be tighter regulation in the form of licensing and more education of mortgage professionals to help keep the criminals out and the good guys in. Fees should be restricted and monitored by lenders. Let the industry regulate itself. With the housing market the way it is, most of the bad guys left a long time ago. Those left are mostly the ones that are dedicated professionals that wanted to make a difference in a good way.

America, get back to paying cash for what you buy. Pay attention when you are making the biggest economic decision of you life and take the time to find a licensed professional, not just someone that tells you what you want to hear, and get at least three opinions by those that know the industry and review the Good Faith Estimate before you commit to anything.

America start taking responsibility for your own finances and stop looking for a hand out. You are a country obsessed with plastic and owing more than what you can pay for. When buying on credit was invented, it wasn't meant to be an excuse to keep buying and never pay off the debt. They used to have debtors prisons and maybe bringing them back isn't such a bad idea. You are only a victim because you let yourself be one.

Learn more about this author, SanDee Winn.
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