[caisson71]

When this practice crashes and "legal" taxpayers are left holding-the-bag, we will see the S&L crisis as a cakewalk. Take the interest rates now because it won't be pretty when this goes bad.

[ChiMark]

If these people cannot cover a 5% down payment what are the odds that they'll cover a mortgage? What is the rate of fore closure? I know Chicago has a 1% down guaranteed loan program for first time buyers but only if you're hispano or non-white.