My one reason? Well, they don’t call ’em liar loans for nothing. 😉 In any event, hopefully all of this stated income, no doc, 100% crud will go away here over the next few months and only those that can truly afford a home will be able to buy one. My guess is that the “stated” loans were used more by speculators to get into spec homes than it was by families looking to get into a home they couldn’t afford. It will be no great loss to society if these types of loans are banished forever.
