In James Doran’s article in this morning’s National he makes reference to the "worse than junk" [mortgage] loans that were taken out by people who couldn't repay them. This portion of the article is worth expanding upon.
Some would have us believe that these loans existed because lenders' loan programs allowed for practically anyone with a heart beat to get a loan. This, however, is only part of the truth.
Monday, December 14, 2009
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