The deal the ninaprincess posted looks like a substantially better deal than this one.
recordsclerk is on to something about buyers willing to take the path of least resistence, and overpay for the privilege of a turnkey house with low downpayments.
I believe that there’s a danger of low-wherewithal buyers not being able to hold-on if we have a double-dip recession. If the economy takes a turn for the worse, we could see another wave of foreclosures.[/quote]
It’s guaranteed, especially with all the 3.5% FHA mortgages that have been doled out in recent years.
Taxpayers are 100% on the hook now, though. And that’s what really sucks with all the bailouts. The losses are still very much in the future.
