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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: TheSlowLane who wrote (13725)5/12/2004 10:53:30 PM
From: t4texas  Read Replies (2) of 110194
 
i saw it. the punchline was really nuts. sharon epperson showed a guy who bought a greater than $400K house for no money down. all he had to do was bring $15K to the closing. in addition epperson showed some "creative" ways financing is happening. one i always laugh at is the mortgage where up to 10 monthly payments can be missed, and they are just rolled back into the mortgage. then there is the "interest" only mortgage. i don't know how that works, unless there is some balloon payment at some end point.
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