a dog-eared town

She really did. I’m amazed at how unprepared people are who purchase homes and then wonder why bad things happened to them.

Shannon Dennis was losing her inheritance, her dream job and her home. All she wanted was to tell her story to state regulators, hoping to recover a little of what she lost since she unwittingly took out a “stated-income” loan to buy a home two years ago.

She unwittingly took out a loan? She didn’t know she was taking out a loan? How does losing her job have to do with buying a house?

Dennis said she did not realize she had signed such a loan — often called “low-doc” or “no-doc” loans because they require minimal documentation of a buyer’s income. She said the lending company inflated her income more than three-fold on loan documents she admits she signed but never read.

“I trusted people,” she said. “And shame on me; I’m the first one to admit that I screwed up, no question.”

It’s not a question of trust, it’s a question of acting like an adult. Who the hell signs legal documents and doesn’t read them? What did your lawyer say about the documents? Did she have a lawyer? I’m guessing not, though the article doesn’t say.

She expected to refinance before the interest rate adjusted,

If she was completely clueless about her mortgage, why would she refinance it? She “trusted” the mortgage company, so obviously she thought she had a good loan. There wouldn’t be any reason to refinance unless she knew things weren’t good. And that’s why I don’t believe her when she says, she had no idea about this loan. People don’t refinance for the hell of it.

With her own home lost and her dreams on hold, Dennis said, “I just want to become an advocate and help other people, and find a way to stop it from happening.”

You know what? Why don’t you spend your time educating yourself. I don’t think you being an “advocate” is going to help anyone. You completely disregard your own culpability and want to blame someone else. Did you really think, on $2,000 a month income you could afford a house worth almost $300k?

Well obviously you didn’t. You wanted that house and you got it. That’s all that mattered to you and you have no one but yourself to blame. And please, stop trying to help others. I think you really need to worry more about yourself right now than anyone else.