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Yes, 26 everyone involved in the Great ACORN plan of the late 1990's from people who received 120% of the price of a home who could not afford the mortgage payments from day one to the extreme excesses of this past mid decade.
Nobody forced anyone to purchase a home that was well beyond their ability to pay. Everyone thought it was a "great deal" when it was happening. Too bad the great tree that ACORN produced was rotten from day one any many people suffered from it.
I guess when it is too good to be true, the uneducated jump to be first in line and are always the ones hurt.
Everyone took advantage of the fruits from ACORN, the buyers, the sellers, oh yes there were those sellers who made huge amounts of cash, the banks for funding outrageous deals, the realtors who rode the wave to the top. Remember nobody was forced to pay the prices they did.
This has happened many times from the tulips of Holland to today. Nothing new and it will surely happen again in the future.
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