It STARTED

[Clammer]

Surf -I,m not knocking your sales or buyers // sure I,ve sold plenty to 100% down buyers // what I,m saying is the XL amount of foreclosures is being helped by these buyers buying at the top of their approval & find its too tough // with no money invested & now no equity === they are walking by the hundreds // there is a agent in MASS. =right now carry 60 reo properties ////

[Surfcastinglife]

i know you weren't sorry if i came off like that, and i probably didnt convey my point like i wanted to either. what i meant was just there are so many of these folks out there now, that they really will account for more of the foreclosures just because they are buying most of the houses (at least around where i work) but yes, you're right they are at a much higher risk for foreclosure and even for problems before closing because as alot of the mortgage companies they are dealing with are only out to exploit them, i've talked to people that have recently purchased homes and payed 15,000+ for closing costs and not to bring something else into this but most of these people are immigrants getting exploited by people of their own native language

[Jenn]

sorry to but in here but I dont think the 80/20 is the problem as much as "overbuying" is. That is the sad part.... we bought our first home (yes with the 80/20) a few years ago....we were pre appoved for OVER TWICE what we knew we could safely afford. I think too many see that as the go ahead. "well the bank will give it to me so that means I should be able to afford it".......NOT!