The risk of zero-down loans while the Fed talks recession
Housing Wire
SEPTEMBER 8, 2022
Bank of America recently announced a loan for lower-income households that doesn’t require homebuyers to come up with a downpayment or closing costs, and doesn’t base the loan on a minimum FICO score. People’s first reaction was to wonder if this was 2008 all over again. Are we really doing those types of loans and promoting homeownership again without understanding the risks?
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