Mortgage Fraud: Who is at Fault?

Mortgage Fraud is on every State Attorney Generals’ Office in America. State Attorney Generals are indicting and prosecuting all the would be fraudsters out there, however is the fraud that has transpired as a result of the Mortgage Crisis in America simply the fault of the Mortgage Industries lack of regulation or is the American Public to share the blame?

The American Public always seeking the American Dream; the house, the car, the career, a couple of kids and everyone is peachy. The American Dream to own. The American Dream comes with a price and always has and it’s called responsibility.

How many of us have applied for a loan of any sort and tweaked the numbers of our income a bite to show we made more than what we did? How many of us have written on an application for a loan that you have lived at the same place for two years when you knew you had only lived there for one? How many of us have been blinded by the pure knowledge of extra cash coming into our pockets that we didn’t consider the terms of the loan we were getting?

When you are in need of funds to get the creditors to stop calling you because you have extended yourself why beyond your means; is your concern the terms of the loan? I answer no. Your main concern is getting the creditors to stop calling and if putting another mortgage on your home is the only way to do it; you will.  You’re looking for that instance relief from the pure hell your living in and you’re not focused the long term issues. America has become the land of instance gratification. We must have it now and we can but at what cost.

The American Public in general is concerned with getting on with their lives and putting food on the table. We want professionals in this case the mortgage business to handle the fine print. We want them to provide us with instant funds to cover our surmounting debt. We want these professionals to have our best interest at heart. The American Public forgot one basic rule. Trust no one and that theory was proven by the Catholic Roman Church Scandal back in the eighties.  Can you trust your priest not to touch your son after service? God gave us one thing that we forget to use daily; free will.