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Why the Housing Market Is so F%#@ing Insane Right Now

The Breakdown

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How to Qualify for a Mortgage After the Great Financial Crisis

In two thousand six the minimum proof of income requirement was satisfied by a phone call to an employer, with very little verification of legitimacy. The medium credit score for purchasing a home is today forty five points higher than it was before the o seven crash. Of the top 25 non bank sub prime lenders in two thousand six only one was subject to the usual mortgage laws and regulations. And these non bank underwriters made more than 12 million sub prime mortgages with a value of nearly two trillion dollars,. representing over ten % of the us. When all was said and done, however, by september two thousand ten, after the crisis, 23 % of all us. Homes would be worth less than

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