Good article. It was also a double-edged sword as there was a demand for more home financing options for those who could otherwise not afford a home. At the front-lines of seeming accessibility some of the store-front mortgage trolls, sensing the scam end was near - just before turning out their lights the last time - ditched their creative 'paperwork' to the banks, etc. Couple this with the balloon payments, rising PMI's and ski-high escrows: many could not pay.
What was even worse were those who had home paid for [[free and clear), or nearly paid who entered into the fast-money muck and fray. Suddenly they were jacked! If you were smart you knew nothing is for free and you held off and kept your home as it was, yours.
It was so corrupt on the ground level I heard of a re-fi situation where the so-called mortgage 'agent' split the loan on a house with the seller as extra fee for extra 'creative' paperwork! Incredible. The individual lost their home and the store front Mortgage company is long closed.
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