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 etbartley is right on the money with his opinion. While admittedly, mortgage brokers may have less scruples than say, well Lawyers, but the truth of the matter is that most consumers were reasonably aware that their teaser rates were going go higher when they entered into their purchase agreements, they knew that the rates they committed to were not tied into any kind of prime rate established by the Federal Reserve System, and they also knew they would be severely affected when that in fact happened. The homeowner dream is a great one. It is not a Constitutional right. Most people who need a good transportation car buy something to go to work in that is economical, affordable, and it is considered a tool. Those people bought a Nissan Altima, Chevrolet Malibu, Ford Escape or Focus. Many of them enjoyed an almost non-existent interest rate on the financing for up to 5 or 6 years. Most if not all did run out and purchase a $380,000.00 Rolls Royce, Bentley or Aston Martin because the...
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