>"if you consider that using one's bad situation to trick him into a loan which terms are unduly onerous is despicable thing to do for a bank" I feel like thes

>"if you consider that using one's bad situation to trick him into a loan which terms are unduly onerous is despicable thing to do for a bank" I feel like these conversations are so one-sided: Why is it always this? Yes, predatory lending happened. But you know what else happened? People fraudulently reported personal information (with little verification required, which was a government mandate) to get mortgages. People who knew they had no chance in hell to repay the mortgage, but thought they could "flip" the house in time, or that prices would never fall. I can't tell you how many stories I've read or listened to where people tell their tale of going into the bank, reporting their income way too high (yes, sometimes thanks to a pushy mortgage broker) and getting a massive mortgage. All with no job. This is fraud, but the banks don't worry too much, because worst case scenario they take back the property. The papers you sign are your responsibility. That goes for both parties.