[quote=jpinpb]
That all may well be true. All I can go by is what I see and there are people owning multiple properties, clearly investments and not just small time investments, and they’re 100% financed getting NODs. I just posted on the Shadow inventory thread some guy in Tiburon bought 3 places in Carmel Valley that are all listed w/NODs. I’m sure he’s not the only one.
Liar loans were popular, banks weren’t checking and pretty darn easy for an investor to say he lives there and not put 20% down. Heck, Rich posted Kelly’s VOSD story on fraud. People are creative, that’s for sure. They will find a way and work the system.
[/quote]
Did these people buy in 2008 or in 2005. If you say 2005, you won’t get any objection from me. There were plenty of liar loans in 2005. I just don’t think those loans exist anymore. I could be wrong.
