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August 29, 2005
Mortgage Lenders
Some of the least respected people in the world of finance are mortgage lenders. Mortgage lenders are often compared to lawyers in that they are seen as money hungry people who are more interested in their own personal gain than in actually helping their client. I have no doubt that there are some mortgage lenders that meet this stereotype perfectly. Otherwise the stereotype about mortgage lenders would not exist. However, there are also lots of mortgage lenders that work their hardest to help find mortgage solutions that are ideally suited to clients, even if it results in less income for themselves.
Mortgage lenders are faced with tough decisions everyday. They need to help their clients predict their future earnings potential and find a mortgage that is suited to this. However, there is not always a guarantee that these predictions will end up being correct, and with they are not the mortgage lenders are often used as a scapegoat. Countless people who have defaulted on their mortgage proceeded to blame their mortgage lender for not having better planned their finances. In some cases this is probably true and people are correct in blaming their mortgage lenders, but in more cases people have not lived up to their potential and simply blame their mortgage lenders instead of correctly placing the blame on themselves.
Posted by ben at August 29, 2005 10:21 AM