whose fault is it for ppl losing houses now? ppl who signed for mortgage? banks? explain?

Ultimately the responsibility goes to the homeowner. A lot of the foreclosures are because of those ridicuous financing options. But, hey -- those "greedy" lenders are out to make a buck just like everybody else. Like the 24 year old newlyweds who thought they could magically afford a big 4 bedroom house (and bypass a traditional starter home) because of the great financing. Why not? He worked as a roofer doing new construction homes and she worked at a small family owned business. He was working tons of oertime. They thought they had it all figured out. The housing market was booming 5 years ago. But now, 5 years later, work is not very steady for him. And she's only working part-time for the company because that's all they can afford to keep her on anymore. 2 years ago they had a kid, so they have daycare and other expenses they didn't have back 5 years ago. She traded her car in for something for appropriate, so that car payment went up. And now... time's up to increase that mortgage payment. They have more bills and less income. And the mortgage payment is going up by another $300. Just great.

Looking at the man's job... the builder he worked for was another greedy company. They hired cheap illegal aliens to do most of their grunt work. In doing this, they could also bypass the insurance -- saving even more money. If you don't know how jobs get done, they awarded to the lowest bidder. It's all about making a buck. That same house you live in... And the lenders want to make money to get you into the house, too.

The owners seems to make some poor decisions getting into the loan, and then while they're waiting for that initial term to expire they continue making those poor decisions. Plus add some bad economy to the situation... and that's who we have to blame.

It's easier to blame it on "them" and "they" and avoid responsibility. But they're not the only greedy ones... people wanting to get into something they can't afford for nothing? Come on! Like you were taught when you were a kid. If it looks too good to be true, it probably is.

Well, while in some cases the banks get blame for approving mortgages that are too high while telling borrowers they can afford them, ultimately the responsibility rests on the buyer to do the math. It's ridiculous to hear people who are socked with having to suddenly pay an extra $800 per month on their adjustable rate mortgage crying the blues. They knew exactly what they were getting into. Or maybe they just buried their heads in the sand when it came time to sign on the dotted line. Either way, in the majority of cases, the buyer need only to find the closest mirror to see who's in the wrong.

It's not 1 single group. The people that signed for the loans get some blame. But the losses by the banks are affecting the market, and affecting all of us. They knew they were making loans to people who couldn't really afford it. In some cases, the banks were being borderline unethical in giving out these loans. They were also slicing and dicing and reselling them in a manner that they knew was unstable. When one dollar is supporting 100 dollars of securities, you've got a problem.

Lack of education made it possible for people to be so stupid, but the banks knew what they were doing and they can manipulate inflation with the press of a button.

Somebody had to convince and allow these people to buy the homes.

with slogans like, own your home now with 0% down?

All boils down to the capitalists exploiting to make excessive profits - a corrupt, utterly heartless system, sustained repetitively by greedy Western governments and banks.

The buyers are not to blame - they just need a home and security.

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I blame the banks they were giving money to people more times that they earn it should be tightened up

Banks for bamboozling people and being irresponsible with their lending practices, and people for borrowing what they can't really afford.

the home owners that borrowed more than they could afford

homeowners, they bought a house that they couln't afford.