The next ball to drop: Alt-A

Potentially deeper and longer than subprime, according to Mr. Mortgage.

Hat tip

Even in this economic climate, FNM and FRE still offer no money down loans. Well, if you’e on the road to ruin, might as well bet the house, as well as the shirt off your back.


“Negative equity is the number one contributing factor to loan default” -Mr.Mortgage

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