Re: Zero Down mortgages
The recent housing boom and resultant credit frenzy mess was predictable. Home prices go up, credit risk goes up. Everyone asked for years when will it end as homes prices soared, incomes stalled and borrowers borrowed. Surprise! The victims now are not only the defaulting homeowners, but the banks, the banks workers, the home builders, the home builders workers, etc., etc.
As far as the "crooked mortgage brokers that only cared about commissions", has that really ever been much different? I suspect the broker who counsels buyers to go elsewhere because they are risky, does not win the Salesman of the Month award much.
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