Not long ago, mortgage companies started to offer a smorgasbord of programs to make home ownership easily available to almost everyone. Some of the common terms we have become accustomed to hearing include:
Low-Doc
No-Doc
Full-Doc
100% LTV
Interest Only
ARM
Conforming
Non-ConformingThe housing market has been red-hot for many months, but we are realizing that all these short-term "solutions" have become long-term "problems". For instance, if a potential borrower had a decent credit score, they could obtain a "No-Doc" loan...which meant that...
September 8, 2012
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