How come adjectives the desperate debt those stopped paying on their mortgages second year, because Pres. Bush be going away?

The talking heads say-so that we are in this bad situation because process back when banks be forced to give people who didn't enjoy the best track record of paying bills mortgages. Then they punted on the loans and their was a giant flood of houses on the souk and real estate took a hit.

If they been lqaning for 10-15 years channel all of the sudden did they all stopped payng ultimate year, that's hard t believe., I mean generally bad credit risk creditor have a track diary to punt in like 6 to 18 months. so is this really the problem?
Answers:
What exactly is your question?
My bank head told me sub-prime loans are still being given to people who don't qualify for a hill loan. They are counting on the bail out. It's still going on.
They stopped paying because they hear that Obama was going to pay it for them, courtesy of the those who do recompense their bills on time.

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