We are! The taxpayers are footing the bill for every scumball in foreclosure.

And the Weiland Affirmative Action, no money down, crappy credit mortgages for first time $300,000 homebuyers. They oughta call it Amos Funding.

yep, it seems it is a win win for the company...I have heard he plays the bank, it is easier to get a loan with him, if you default, no problem, the house has gone up in value, and he has all the assets to fix it up, he takes it back, puts in on the market, and resales it at market value. But...so many developers are flooding the market with housing that it is about to bite him in the butt. He won't be standing in the street selling pencils, that's for sure, but he won't be able to keep this up without loosing money as the market becomes glutted with too much excess. I don't see that any laws have been passed to help those with bad credit, they seem to pass more to set them up for failure. The way the whole thing is set up now, people with bad credit are getting loans at higher rates, with more penalities, they have lost before they start, again, who wins? Bush and the bunch let them charge these people these high rates, it they can't pay the low, who would think they could pay the high? The bad credit homeowners loose, ...but... the banks win all the way around. They have been turned loose to do their preditory lending and victimise these people, then they are rewarded by a government bail out or what ever...Wouldn't it just be simpler to start off with gov backed loans with ..LOW... rates so these people ..MIGHT... be able to pull it off, then give the banks who give them these loans, maybe some sort of tax incentive? then maybe we wouldn't have to bail everyone out? It seems it is set up to make the banks/wieland, richer, the poor the poorer and the taxpayer as always...looses.