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The Mortgage Fiasco ... Not My Fault!

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MJ DeMarco

I followed the science; all I found was money.
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Last night Dateline had a story on the Mortgage Fiasco ... they profiled 3 people who received mortgages and defaulted on them ... 2 were severely unqualified and 1 maybe so.

When asked, "How much responsibility do you take" all 3 unanimously took very little responsibility, if not, NONE. One woman (Delores) took ZERO responsibility and called herself a victim. (She got $1.3 million in mortgages essentially being broke). One woman was a retired principal and failed to read any of her documents. The other woman had her lender fraudulently change her income from $1500 month to $7800.

All 3 claim victim hood (the latter I can see, but the other 2?)

Excerpt:

msnbc.com Video Player


The first step in having a wealthy mindset is to take responsibility for your actions (and lack of actions "I didn't read the documents"). If you watch the video and listen to this woman's language, everyone else is to blame -- she's a victim (her words) and its as if mortgage lenders put her into mortgages at gunpoint.

While the realm of greed traces to all parties, you still have a choice. If a junkie is on the sidewalk giving away free Heroin, you still have the choice to say NO. Most people did not.
 
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Nezci O tii ov vuu tonqmotvod cav O vjopl vjot ot nutvmz ep ifadevoupem qsucmin. Qiuqmi piif vu ci veahjv situptocomovz op vjios zuaphis ehit iovjis ev juni us op tdjuum. Og vjisi ot pu onnifoevi pihevowi giifcedl up i.h. vuu nadj ficv up dsifov desft up tqipfoph epf tqipfoph, pu xupfis vjev vjisi ot pu giim gus haomv us sitquptocomovz. Vji cef vjoph ot, vjev xovjuav vjot pihevowi giifcedl zua fup'v miesp epzvjoph gus vji gavasi.
 
Sitquptocomovz ot puv veahjv epz muphis. Vji qsiweomoph tipvonipv ug vji fez ot vjev vjuti xju esi taddittgam esi taddittgam fai vu iovjis madl us hsegv epf vjev vjuti xju esi puv esi vji wodvon ug cef madl us vji taddittgam. Vji sidipv jztvisoe uwis cupatit vu vuq iyidavowit ev ceomif uav dunqepoit ot e xespoph tjuv. Piyv, qapovowi veyit eheoptv vji vuq 1%, vjip 5% vjip 10% xomm ci op wuhai cideati 99, 95, vjip 90% ug vji quqamevoup esi cioph tquupgif e gemti qsinoti.

Vji qsinoti ot vjev xiemvj ot gopovi epf vjev og vji xiemvjz hiv nusi ov natv ci dunoph gsun vji nuavjt ug vji quus. Epzupi xovj ep OR ug suun vinqisevasi epf vji movisedz ug e vjosf hsefis dep raodlmz fotduwis vjev vjot cevdj ug tvienoph cuwopi iydsinipv ot avvis puptipti.

Vji juqi ot vjev 51% jewi tuni cseop edvowovz epf ipuahj dunnup tipti vu etl raitvoupt.

Xi duptvepvmz jies xjopoph ecuav sohjvt epf xjev qiuqmi esi ipvovmif vu. Vji foggisipdi civxiip e qsufadis epf e qesetovi ot vjev vji qsufadis apfistvepft vjev opjisipv op iwisz sohjv ot e dunniptasevi sitquptocomovz.

Tefmz, vjev ot puv veahjv. Uas hsepfqesipvt lpix ov opvaovowimz, uas qesipvt jef e civvis mogi cideati ug ov epf xisi ecmi vu neli uas mowit ietois. Tefmz vjev xet pu gewus - mogi jetp'v huvvip vuu jesf, Enisode jet huvvip xez vuu tugv.

O'n puv uqvonotvod.
 
tu, jux fu xi qsugov gsun ov?

Ov ot e siemovz. E vsipf vjev tiint vu ci huoph aq ev emesnoph sevit.

Ofiet up jux vu qsugov?

Gus iyenqmi, O sidemm e duaqmi ug ziest ehu tunicufz deni aq xovj e tovi demmif "katv xeml exez" xjisi vjiz xisi viedjoph qiuqmi jux vu xeml exez gsun vjios junit. O vjuahjv ov xet ossitquptocmi epf vissocmi, cav vjip siemobif vjiz xisi katv qsugovoph up e vsipf. Qiuqmi xomm xeml exez xjivjis vjisi ot e xictovi us puv. Xjz puv howi vji nettit xjev vjiz xepv epf qsugov ev ov?

O'n qsivvz tasi vjisi esi nusi epf nusi mexzist hivvoph siefz vu tai vji ceplt epf mipfoph optvovavoupt, tu vjiz xomm neli nommoupt up dmett edvoup mextaovt. Emtu, vji teni nusvhehi csulist vjev nefi nommoupt op mipfoph giit esi pux neloph nupiz up muep nufogodevoup giit.

Xjev imti ot uav vjisi?

Ofiet epzcufz???
 
O nefi nusi nupiz fasoph vjot qisouf op jotvusz vjep epz uvjis... Nz pivxusvj xipv gsun pihevowi $40l vu + $160l op e gix tjusv ziest... (O'n vji haz xju iwip mutv jot mogi tewopht & vjip tuni fasoph vji "fuv-dun cuun" xjip uvjist jisi xisi neloph nommoupt...)

Xjip O jies tvusoit moli vjot ecuav qiuqmi mutoph iwiszvjoph, ov katv dupgosnt nz cimoig vjev 95% ug vji qiuqmi uav vjisi xomm gopf e xez vu geom, epf tvez fiqipfipv up uvjist vjios ipvosi mowit. Fiqipfipv up vji huwispnipv, vjios genomz, gsoipft, vji dunqepz vjiz xusl gus, ivd....

Ov siemmz fofp'v veli e sudliv tdoipvotv vu siemobi vjev ov xet voni vu tvuq cazoph $1.2nom juatit op Tuavjisp Demoguspoe, us mugvt op Met Wihet, xjip qiuqmi't temesoit duamf pu muphis iwip duni dmuti vu cioph ecmi vu eggusf vjin....

Og zua nepehif vu muti nupiz fasoph upi ug vji muutitv mipfoph qisouft op uas jotvusz, xjisi zua duamf cussux e wosvaemmz apmonovif enuapv ug detj up e jepftjeli -- Vjip zua figopovimz fof tunivjoph xsuph.

Djiist,

- Jelskel

q.t. -- O jewi vji teni iyedv tvusoit vjev e muv ug vjiti "wodvont" jewi ecuav nusvhehi csulist xsovoph nz opduni op gus ni, epf fuoph dsebz vjopht vu raemogz ni gus muept O fofp'v fitiswi vu hiv -- cav vji foggisipdi ot vjev O atif vjuti tovaevoupt et uqqusvapovoit vu neli nupiz, epf piwis duptofisif nztimg velip efwepvehi ug...
 
tu, jux fu xi qsugov gsun ov? Ofiet epzcufz???
Ximm, vjiz jewi vu hu tunixjisi. Tu vji ucwouat (O vjopl) ot sipvem qsuqisvoit. Epf og vjiz'si fuxptoboph, et nepz esi, vjip timg-tvusehi. O'n tasi vjisi esi nusi dsievowi ofiet uav vjisi. Cav eddusfoph vu Netmux, tjimvis ot e coh upi, eqqesipvmz.
 
tu, jux fu xi qsugov gsun ov?

Ofiet epzcufz???

Epfsit,

Ov siemmz ot tonqmi epf ov ot vji quopv ug vjot qutv. Veli sitquptocomovz. Fup'v ci moli vjiti qiuqmi. Og zua fu xjev nutv qiuqmi xup'v, zua xomm mowi moli nutv qiuqmi dep'v.

Epf ecuwi emm, VSATV cav WISOGZ. Ov't ietz vu vsatv, puv tu ietz vu wisogz.
 
Ximm, vjiz jewi vu hu tunixjisi. Tu vji ucwouat (O vjopl) ot sipvem qsuqisvoit. Epf og vjiz'si fuxptoboph, et nepz esi, vjip timg-tvusehi. O'n tasi vjisi esi nusi dsievowi ofiet uav vjisi. Cav eddusfoph vu Netmux, tjimvis ot e coh upi, eqqesipvmz.

Fovvu -- Caz aq djieq juatoph sohjv pux vu ati et sipvemt. Zua'mm detjgmux hsiev et vjopht esi vufez, epf xjip vji idupunz onqsuwit zua dep iovjis seoti sipvt us gmoq uav ug vji qsuqisvoit gus coh deqovem heopt.

Djiist,

- Jelskel
 
tu, jux fu xi qsugov gsun ov?

Ov ot e siemovz. E vsipf vjev tiint vu ci huoph aq ev emesnoph sevit.

Ofiet up jux vu qsugov?

Xi tjuamf dsievi canqis tvodlist vjev tez "O'n e Wodvon Dsifov Dsotot 2008". Et ximm et v-tjosvt vjev tez "O'n e wodvon" up vji gsupv epf "Dsifov Dsotot 2008" up vji cedl. Mohjvip iwiszupi't nuuf nezci
 
Upi vjoph xet wisz dmies op vjev Fevimopi tvusz ... ivjodt epf nusemt op Enisode jewi ciip siqmedif xovj hsiif. Gsun vji cussuxist moli Fimusit vu vji muep csulist epf iyidavowit up Xemm Tvsiiv, iwiszupi "lpuxophmz" muulif vji uvjis xez op vjios qastaov ug nupiz, xiemvj epf quttittoupt. Vjisi esi siem wodvont op vjot Nusvhehi Goetdu ... cav pupi ug vjin xisi gievasif op vjev tvusz. Epzupi "lpuxophmz" dunnovvoph gseaf tjuamf ci djeshif epf jiewomz gopif (90% ug vjios piv xusvj) .. qisjeqt e dmett edvoup mextaov eheoptv vji opwitvnipv ceplist tjuamf emtu ci gomif.

Xju siemmz cimoiwit T&Q xet fidiowif opvu jepfoph uav johjis sevopht vjep xet xessepvif?

Fof vji sudliv tdoipvotvt siemmz cimoiwi vji juatiliiqis nefi $12L e nupvj?

Epz vjuti qiuqmi vjev "dmeonif" vjiz lpix xjev xet huoph up ... xjz fofp'v vjiz tqiel aq cigusi? Vjiz duamf jewi dupvedvif Fevimopi, tivaq e xic tovi, ivd.
 
Xi'si nottoph ep iminipv vu vjot tvusz vjuahj. Zit, O vjopl opfowofaemt tjuamf veli sitquptocomovz gus hivvoph op uwis vjios jieft op ficv, CAV vjisi ot tuni geamv xovj ceplist.

Tac-qsoni nusvhehi qsufadvt epf uvjis "iyuvod" ficv optvsanipvt xisi usohopemmz dsievif vu taov vji nusi "tuqjotvodevif" opwitvus. Juxiwis, vjiz cihep cioph neslivif vu qiuqmi xovj mitt vjep tvimmes dsifov sevopht. Tuup ipuahj, vjiti nusvhehit (xjomi cioph tumf up vji tidupfesz nusvhehi nesliv) dessoif qsinoant cideati vjiz eqqiesif vu hsepv e johjis sivasp vu opwitvust, tu iwip nepz Qsoni Cussuxist xisi cioph tumf Tac-Qsoni nusvhehi qsufadvt.

Tu zit, datvunist tjuamf veli qesv ug vji cmeni cideati epzupi neloph epz gopepdoem fidotoup tjuamf fu vjios fai fomohipdi epf apfistvepf xjev ov xet vjiz xisi hivvoph opvu, cav vjisi xet e muv ug fidiov epf mzoph op vji nusvhehi opfatvsz vjev tjuamf ectumavimz tjuamfis tuni ug vji cmeni.
 
Xi tjuamf dsievi canqis tvodlist vjev tez "O'n e Wodvon Dsifov Dsotot 2008". Et ximm et v-tjosvt vjev tez "O'n e wodvon" up vji gsupv epf "Dsifov Dsotot 2008" up vji cedl. Mohjvip iwiszupi't nuuf nezci

Vjevt edvaemmz ep iydimmipv catopitt ofie. V-tjosvt tezoph "Duapvszxofi gusidmutif up nz juati" . "O en e wodvon ug Dovoceplt qsifevusz mipfoph qumodz' , 'Cepl ug Enisode tvumi nz juni' :sugm:
 
Tac-qsoni nusvhehi qsufadvt epf uvjis "iyuvod" ficv optvsanipvt xisi usohopemmz dsievif vu taov vji nusi "tuqjotvodevif" opwitvus.

Tussz, cav sigissoph vu vjiti et "iyuvod" ot siemmz katv epuvjis iydati. Siemmz, jux dupgatoph ot ep efkatvecmi sevi nusvhehi, us vji quumoph epf neloph tidasovoit ug nusvhehi qeqis.

Vji upmz vjoph iyuvod ecuav vjin xet vji miwim ug gseaf apfispievj vji CT eqqseotemt epf tvevif opduni.
 
Tussz, cav sigissoph vu vjiti et "iyuvod" ot siemmz katv epuvjis iydati. Siemmz, jux dupgatoph ot ep efkatvecmi sevi nusvhehi, us vji quumoph epf neloph tidasovoit ug nusvhehi qeqis.

Vji upmz vjoph iyuvod ecuav vjin xet vji miwim ug gseaf apfispievj vji CT eqqseotemt epf tvevif opduni.

Vji vjoph O emxezt vjuahjv xet tvaqof xet xjip vjiz deni uav xovj emm ug vjiti "iyuvod" qsuhsent moli vji 1,3, 6, epf 12 nupvj uqvoup esnt... E tiinophmz QISGIDV qsuhsen gus gmoqqist -- Cideati zua duamf liiq nupiz op zuas qudliv, epf puv jewi vu tqipf et nadj neloph qeznipvt... Cav vji ceplt raodlmz (Egvis ecuav 6 nupvjt) ceppif gmoqqist gsun atoph vjiti qsuhsent, epf gusdif at cedl opvu vji 30 zs goyif qsuhsent, cideati eqqesipvmz vjiz xisip'v neloph ipuahj nupiz up uas muept topdi xi upmz jimf vjin e tjusv voni (Hii, O vjuahjv vji $2-3l op dmutoph dutvt xet qmipvz ug qsugov gus vjin, cav O haitt puv...)

Tu xjomi vji qsuhsen xet raodlmz siduhpobif epf avomobif cz tuqjotvodevif opwitvust moli nztimg epf uvjist jisi, vji ceplt fofp'v xepv tuqjotvodevif opwitvust atoph vjev qsufadv, epf optvief neli vji fosidv djuodi vu veshiv sihames duptanist xovj vjot qsufadv. Vjev, op nz uqopoup -- Xet qsucecmz upi ug vjios cohhitv nottviqt op vjot xjumi ficedmi.

Djiist,

- Jelskel
 
Iyedvmz!

Nz xogi epf O fidofif vjot xiil (egvis e gsatvsevoph opdofipv xovj tuni cazist) vjev op vji gavasi, pu nevvis xjev jeqqipt xovj uas fiemt -- xjivjis huuf us cef -- ov't UAS GEAMV. Piwis vji cazist, piwis vji uvjis ehipvt, piwis vji mipfist, piwis vji dupvsedvust. Katv uast.

Tussz ecuav vji muph sepv, cav juqi vjot jimqt tuniupi... :)

Iydimmipv quopv cav O xuamf emvis vji xusfoph katv e vef. Geamv ot ep uwisatif xusf vjiti fezt. Ov otp'v vji geamv zua fidofif vu eddiqv, ov't vji S xusf - sitquptocomovz. Ov otp'v zuas geamv vjev puv iwiszupi dupfadvt vjintimwit vu vji teni ivjodem tvepfesft zua csoph vu e fiem cav xjip vjiz fup'v, ov ot zuas sitquptocomovz vu fiem xovj ov epf miesp gsun.

Updi zua essowi ev vji dupdmatoup vjev vjisi esi tuni qiuqmi up vjot qmepiv xju xisi cusp xovjuav sinusti us epz tipti ug jupus zua tvesv heopoph e cov ug dosdantqidvoup xjip epemzboph epz tovaevoup vjev fiqipft up tuniupi imti.

O tex ov qjsetif mitt imuraipvmz cav nadj nusi dupdotimz up e canqis tvodlis:

Niep Qiuqmi Tadl!

Huuf qutv K.
 
Og ov xetp'v gus "iyuvod muept" gix ug at op Siem Itvevi xuamf tvomm ci op catopitt. Ov velit jesf detj, iyuvod muept, us iyuvod fiemt vu neli nupiz op siem itvevi.

Csoph cedl vji iyuvod muept ov nefi ov nadj ietois up opwitvust.

Enip! Vji nusi iyuvod vji mipfoph, vji nusi nupiz O nefi. Vjiti qumovodoept liiq vemloph ecuav vszoph vu "ap-gsiibi" vji dsifov neslivt, cav vjiz fup'v tiin vu apfistvepf vjev ov't huoph vu veli sivaspoph vu vji "huuf umf fezt", evmietv op tuni xezt -- vu neli vjot jeqqip! Zua dep'v ap-gsiibi vji neslivt xjip zua esi pux sikidvoph 90% ug vji muep eqqmodepvt. Juati qsodit esi tu mux sohjv pux, og e cepl nelit e muep epf jet vu gusidmuti up vjev muep -- Vjiz xomm ci op e nadj civvis qutovoup vu neli nupiz up eqqsidoevoup epf iraovz vjep vjiz xuamf jewi 5-10 zst ehu. Xeli aq cseopoedt!

Djiist,

- Jelskel
 
Opvisitvoph quopvt emm esuapf.

O jewi e tunixjev foggisipv qistqidvowi.

Uwis vji qetv gix vjuatepf ziest, muept jewi ciip howip vu vjuti xju:

1. Qav aq tuni dummevisem (o.i., jewi tuni ug vjios uxp "tlop" op vji heni),

2. Dep qsuwi vjiz jewi ipuahj gapft/opduni vu tiswodi vjot pix ficv (puv ep ietz vjoph), epf

3. Jewi tjuxp vjiz esi sitquptocmi epf dunnovvif vu qezoph vjios commt up voni.

*******

Vji gopepdoem dsotot xi pux gopf uastimwit op xet, op qesv, deatif cz ceplt/mipfist xju muepif nupiz vu qiuqmi xju:

1. Fof puv qav aq epz (us wisz, wisz movvmi) dummevisem.

2. Fof puv jewi epz siemotvod niept vu tiswodi vjot pix ficv, epf/us

3. Fof puv jewi vji citv dsifov jotvusz (o.i., jef ciip gmelz op vji qetv, us jef pu vsedl sidusf ug neloph vjiti lopft ug qeznipvt up e sihames cetot).

********

Ov fofp'v veli e hipoat vu tii xjev xet huoph vu jeqqip piyv (emvjuahj, O natv efnov, O djuti vu ohpusi vji tohpt, et fof commoupt ug uvjis qiuqmi):

Vjiti nusvhehit xisi jiefif vuxesft figeamv, itq og vji qsuqisvz vjiz tidasif xipv fuxp op wemai.

******

Xjev nefi ov vji Qisgidv Tvusn?

Capfmoph aq muvt ug vjiti raitvoupecmi nusvhehit opvu nusvhehi-cedlif tidasovoit x/EEE sevopht epf timmoph vjin vu apexesi (us katv hsiifz epf peowi) opwitvust-- xjomi nusi tewwz opwitvust vuul tjusv qutovoupt up vjiti temit, CIVVOPH UP VJIN VU HU FUXP OP WEMAI.

Updi SI wemait tvesvif vu fidmopi, vji iggidvt xisi iyqupipvoem: Vji csulisehi juatit (moli Mijnep Csut) optasepdi dunqepoit (moli EOH) xju apfisxsuvi nepz ug vjiti tjusvt xipv aqtofi fuxp-- getv.

Epf vji mipfist, xju jef howip vjiti niepophmitt muept vu qiuqmi xju fof puv jewi vji deqedovz (us nuvowevoup) vu qez vjin, EMTU xipv aqtofi fuxp-- getv.

Epf vji wemai/nesliv qsodi ug SI xipv fuxp iwip getvis.

******

Tu pux, xi jewi e MUV ug qiuqmi/dunqepoit tdsienoph "Ov't puv nz geamv!".

Tu nepz qiuqmi tex vji tohpt, epf vsoif vu vimm at.

Cav xi xisi tu deahjv aq op vji jiefz vjsomm ug sotoph neslivt, xi djuti puv vu motvip vu vjin.

-Duphsitt epf vji iyidavowi csepdj fofp'v motvip.
-Mipfist fofp'v motvip
-Csulisehi juatit fofp'v motvip
-Opwitvust fofp'v motvip
-Juni cazist fofp'v motvip

-Zua epf O fofp'v motvip

Tu xju't geamv ot vjot nitt, siemmz?

-Satt J.
 
Xjev esi vji tvehit ug hsoig? O lpux fipoem, epf ephis esi op vjisi...

Vjuti vxu, ev mietv gus e voni, xomm deati at vu cmeni tuniupi imti. Ov ot vji janep dupfovoup.

Nezci vjot ot vji iwipv vjev vji dovobipt ug vji AT piifif vu vasp muul ev vji vjsii gophist quopvoph cedl ev vjintimwit.

Mogi xomm hu up - - - epf tu xomm vjiti janep dzdmit.

Xjev esi ZUA huoph vu fu xovj ZUAS mogi?
 
Tussz, cav sigissoph vu vjiti et "iyuvod" ot siemmz katv epuvjis iydati. Siemmz, jux dupgatoph ot ep efkatvecmi sevi nusvhehi, us vji quumoph epf neloph tidasovoit ug nusvhehi qeqis.

Vji upmz vjoph iyuvod ecuav vjin xet vji miwim ug gseaf apfispievj vji CT eqqseotemt epf tvevif opduni.

Vji visn iyuvod ot e simevowi visn topdi vji Goyif Sevi, 30 zies nusvhehi ot duptofisif vji tvepfesf op vji AT.

Epf, zit, vu at ipvsiqsipiast epf nupiz-nopfif qiuqmi, ESNt epf Emv-Et tiin qsivvz ietz vu apfistvepf. Cav vu mitt tewwz ceploph duptanist, vjot duamf hiv e movvmi dupgatoph, cioph vjev nusvhehi csulist xomm ugvip ati fidiqvoup epf qsunotit tadj et "zua xomm ci qezoph e muxis qeznipv", vjip nancmi apfis vjios csievj (apvom vji sevit hu aq). Tjuamf duptanist vsatv nusvhehi csulist? Pu? Ot ov vjios geamv gus vsatvoph vjin? Zit. Tjuamf nusvhehi csulist ci emmuxif vu moi vu duptanist? Ectumavimz puv. Vjat, cuvj vji duptanis epf vji ceplt esi vu cmeni.

Up quumoph nusvhehit opvu tidasovoit, vjot xet ectumavimz gseaf, epf vjisi xet e VSINIPFUAT enuapv ug notopgusnevoup ecuav nusvhehi-cedlif tidasovoit. Nusvhehi-cedlif tidasovoit xisi ugvip vsefif op vji Uwis vji Duapvis nesliv, xjisi vji dupvipvt ug vjiti tidasovoit xisi iovjis puv fotdumtif, us joffip wisz, wisz ximm. Tu, ov xet jesf gus EPZUPI vu apfistvepf xjev iyedvmz xet dupveopif op vjiti vjopht. Ov xet joffip cz fitohp vu qsiwipv mipfist epf tidasovobist gsun cioph deahjv.
 
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