Did I hear that right? 85%(!) of all loans in that area?
The realtors were pushing it because they made $10,000 on every sale. And the poor debtors are ultimately the ones who are going to pay the price, because falsely stating one's income on a mortgage application is a crime.
The parties involved are going to have to be sorted out between those who intentionally lied on their loans and those that were duped.
2 comments:
Do you know about this site ? He's the poster boy for liar loans.
Yep. You can track him even more on the Housing Bubble Blog as there are a few people who are keeping a watch on him.
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