• glimse@lemmy.world
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    1 year ago

    That’s what I’m saying!! When my broker told me that I couldn’t believe it. They know my income and banking balance, why on earth would they offer that loan?

    But banks aren’t stupid. Foreclosures are good for them in the long run and they know it.

    • M0oP0o@mander.xyz
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      1 year ago

      When I was younger I worked at a bank (regional office doing loan verification of all things) 2009 ish and I can tell you banks can be and are often stupid, foreclosures are not good or wanted, but most of all the incentives for individuals don’t line up with the banks overall best interest.