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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: JBTFD who wrote (11445)	9/20/2008 3:12:57 PM
From: Don Earl	Read Replies (1) \| Respond to of 71475

Mark, I sold a home sometime around the late 80s also, and honestly can't remember the exact terms. It wasn't a conventional loan and it wasn't VA. All I can remember is it was a lot bigger pain in the neck than I thought it would be. You're probably right it was down to 3% plus buyer's closing costs, even back then, but that was still far tighter than it got in recent years. You had to have money, you had to have good credit, and you had to have a good debt to income ratio. I can't think of an easy way to research changes in lending policies, but the timing does seem to correspond with the S&L bailouts of the mid 80s. If that's the case, what's going on now is basically the end result of bad calls to bailout the same players two decades ago.