Monday, August 07, 2006

Homeowners: Scare the Poo Outta You

MaxedOutMama does it every time. She says this:

The Dr. Demento school of mortgage lending wrote loans that were stated-income AND 100% financed AND interest-only or neg-am. In some neighborhoods 40-50% of the people are living in homes they will not be able to afford by the end of 2007.
Uh oh.

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