So why didn’t people jump up and down about this long ago . . .before the situation got out of hand?
I'm going to go out on a limb and speculate that too many people at too many levels were making too much money off it. Who would of thought that the real estate market would ever take a dive and reveal all this nonsense? /s
As long as home prices were going up, people who found themselves unable to make their mortgage payments were probably able to sell their house and still break even or make a profit. It’s become a major problem now because of the drop in home prices. Can’t make the payment, walk away from the house. I wonder how many who have walked away had even made a downpayment on the house.