California Home Lender Loan Mortgage 'Liar Loans' Spark New Wave of Defaults - The Ledger by Mortage

Thu, 02 Oct 2008 19:00:10 -0600

California Home Lender Loan Mortgage 'Liar Loans' Spark New Wave of Defaults - The Ledger

by Mortage @ Thu, 02 Oct 2008 19:00:10 -0600

In the industry, they are called "liar loans" - mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets." HOMES

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