Why aren't the lenders of the sub-prime mortgages being required to change the terms of the loans they approved? The people taking the loans could afford the original % rate & payments & only got into trouble when the payments ballooned.
by 
Anonymous
ANSWERS: 1
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One, the original rate and payments were only that low because it had a balloon contingency. Two, its not that easy to change hundreds of thousands of loans especially since the original terms of the loan even if it is sub-prime are legally binding.
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