repo man

I agree that credit was entirely too easy to get and that some of the home buyers should have been turned down or directed to a home they could truly afford. I also beleive that the real estate industry shares some of the blame as well. Many agent and brokers bolstered sales and helped put people in houses they could not afford by scare tactics or by the "buy it now before its gone" routine. They and the appraisers they used often overvalued homes to increase commissions and drive the market. Financial companies also added to the instability by offering refinancing packages which rolled more debt into home mortgages than the homes were worth.