Foreclosure Crisis Blamed On Zero Money Down
There is new evidence that the zero money down loans caused the crisis and not so much the subprime loans. I would agree with this to a certain extent because if someone has no skin in the game they are more likely to walk away. However, if you can’t afford the home because you got a stated loan it doesn’t matter how much you put down. I guess you would be more likely to do whatever it would take to keep you home if you put money down.
There is a pretty interesting chart in this article too.