All those 100% LTV loans first time homebuyers and credit challenged folks have been enjoying the last couple of years are suddenly going away due to the high instance of foreclosures.
When I was in pre-liscensing classes a year and a half ago, one of my instructors discussed at length how she was predicting this. She said lenders were being to generous with these loans and many people would not be able to make those high interest payments.
Since pretty much my entire client base are young buyers and credit challenged, this really sucks.
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