Those were called “NINJA” loans:
No
Income
No
Job, no
Assets
“Those were called “NINJA” loans:”
Good one. We called them “Foreclosures of the Future.” I was on one deal as listing agent. Buyer’s agent was late to the closing. Buyer sat in silence, didn’t speak English, wouldn’t do anything until Spanish-speaking buyer’s Realtor came flying into the room, said “I’m sorry, I have 8 closings today.” She sat down and the guy started signing.