The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: bentway who wrote (262627)	7/21/2010 3:10:28 PM
From: tejek	Read Replies (1) of 306849

You forgot the NO DOC, stated income mortgage! Very popular in S. Cal. What the F*ck were they THINKING? At the beginning of the decade, the boom was pretty real. The country was coming off the most properous period.....the Clinton years........since WWII. People had money and wanted to buy. However, by 2004, the boom was pretty much spent but the bankers didn't want it to end. That's when they came up with all their creative mortgages and slipshod processing. Like I said, it was like one of those old time religious movies where people dance crazily around some false golden idol. And now we're paying the price.

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