Here is another informative blog. It is called "Another F@cked Borrower." It's written by a mortage broker and some of the stories he tells really make you think that the housing bubble, when it bursts, will be a bigger mess than is imaginable.
Funny, just started looking at that site a couple of weeks back. It's facinating and freightening.
When Realtors® tell us that demand will keep prices high and higher, we don't hear how a lot of that demand is people lying their way into houses. The comment that "every landscaper and house keeper in SoCal makes six figures" based on their no-doc loan apps speaks volumes about the quality of this demand.
(and as an aside, I would be very interested in knowing how much these games go on here in the right coast.)
Funny, just started looking at that site a couple of weeks back. It's facinating and freightening.
ReplyDeleteWhen Realtors® tell us that demand will keep prices high and higher, we don't hear how a lot of that demand is people lying their way into houses. The comment that "every landscaper and house keeper in SoCal makes six figures" based on their no-doc loan apps speaks volumes about the quality of this demand.
(and as an aside, I would be very interested in knowing how much these games go on here in the right coast.)