[quote=paramount]Fortunately the mortgage market – 90% or more of which are funded by the gov’t doesn’t work the way hard liners interested in gentrification would like it to.
Low down payment does not equal sub prime.[/quote]
Totally agreed, paramount. But those making “low down payments” in the past and then defaulting (either due to hardship or for “strategic” reasons) have made a very tough on those with more honorable intentions who are seeking a low-down payment program today.
I think we would all be better off if 10% of the mortgage market was funded by the gov’t (for the properties “mainstream” lenders don’t want to lend on) and 90% of it was funded directly by local banks, credit unions and private lenders.
