Not Ranked
I say a good share of the blame has to be accepted by the banks. Not that long ago I was offered a $500K loan on a house (strictly investment) from a lender based on my Declared income, that is NO PROOF of actual income, and a 100% financing. I actually considered the deal for a few days, BLOWN AWAY, the bank could be so generous. Luckily, I didn't go through with it, the whole consideration was based on 'greed' on my side AND there side. The loan officer would get his share, no matter what happened to the property down the road, why should he care?
As it turns out, it might have been a good investment after all, housing prices continue to rise here. Does that justify the deal? Would I be ready to sue the bank/lender if it all went bad? Would I have lost my primary residence? Tempting, very tempting to think of the possibilitys of winning vs failure. It's a trap, be careful out there.
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