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No. of Recommendations: 2

You wrote, I just think that some things are sufficiently disruptive that they should be regulated or outright banned. Basically, it stops being your right to screw up when it affects a substantial number of people. Stated income mortgages are a prime (heh) example and so, I think, are high rate revolving debt coupled with harsh bankruptcy laws.

My last mortgage was a stated income loan. You appear to be intentionally confusing the concept of a stated income mortgage with sub-prime mortgages.

Personally I'd rather not pay for a lender's extra overhead for regulation of loan underwriting just because you don't understand the difference.

- Joel
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