First off, congratulations on getting what may well turn out to be a bulletproof price and a great loan. Everyone should be so fortunate.
Secondly, a large share of the buyers have been using the so-called “Liar Loans”, which apparently are well named.
With these subprime lenders dropping like flies and the pipelines for these exotic loans being turned off at the tap, I expect we’ll be seeing a lot less of these loans, and most likely a lot fewer of these buyers.
Who knows, maybe the mini-spike in volume was in anticipation to the news that the lenders were cranking down.
