Reply #7: That's nice and all,

[MadHound]

But the fact is it takes two to tango. A house is the most important purchase most of us make in life, so you don't approach it like buying a lotto ticket at the corner store. You need to do some research, set up a budget, and take into account future expenses.

Furthermore, if a lender is offering to lend you money at a low teaser rate, despite the fact that you have a low paying, or no job, on a quarter million dollar house, well, you know what they say about something that seems too good to be true.

Yes, the banksters were greedy, sneaky SOB's. But a lot of the people who signed all those dotted lines were simply stupid. Now we're seeing what happens when greed collides with stupidity.