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Posted by: simonsez 1 year, 1 month ago
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simonsez1 year, 1 month ago
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A truly deregulated market would have never made these loans. Since mortgages came into being after WWII, you had to prove you could afford to pay the mortgage payment if you got one.
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It was only after Fannie and Freddie came into play and were allowed to make loans for any reason if someone wanted one. Congress forced the market to make these loans and they did in spades.
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