Foreclosure numbers tracked normal during these years, look it up.
I'm sure they did. But you need to account for the fact that the loans were basically bad and the banks knew that. These loans had artificially low interest rates for a few years and then BANG you're dead. When those low interest rate periods ended that when it hit the fan. But the poison was in the system for a long time before that.
LOL, wrong, if you look at it you will find, the lenders were shocked at how well they performed. And this fact made them take greater risk. That and the ignorant concept that everyone in the country could buy a 250000 house at 7% interest, the mortgage market went to hell with the flipping and the interest only and year notes, making loans to people because that were breathing.
posted on 10/24/2011 12:25:39 PM PDT
(Just another heartless American, hated by Perry and his fellow demorats.)
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