But is Washington Mutual really the predator?
http://seattletimes.nwsource.com/html/businesstechnology/2010136506_wamu26.html
Why no mention of what culpability the son, who took the $500,000 in loan proceeds and didn’t make her payments for her, has in the loss of her home? Without that initial refinance, none of the subsequent refi’s would have been even necessary. He’s like the prodigal son — got his inheritance early. The only thing is, the prodigal’s dad had lots of cattle left over and this poor woman is living in a little apartment now.
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I was just looking up WaMu (or what’s left of them) and came across this post and the linked story. Amazing, the brass of that once-proud institution. 2003 was indeed the beginning of the end for our financial system – it only took 7 short years to finally implode us.
Comment by Dave Kinkade — August 27, 2010 @ 9:50 pm