06-13-2014, 08:09 AM
["I remember when I bought my house I needed 20% down. Long time ago (1977)"]
Yes, that's one way to do it. The last decade they gave everybody with a pulse a mortgage, simply because banks could get the mortgages of their balance sheet by repackaging them into complex products, so nobody had an incentive anymore to check the creditworthiness of people entering in these mortgages.
We all know how that finished..
Yes, that's one way to do it. The last decade they gave everybody with a pulse a mortgage, simply because banks could get the mortgages of their balance sheet by repackaging them into complex products, so nobody had an incentive anymore to check the creditworthiness of people entering in these mortgages.
We all know how that finished..