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'Liar loan' home mortgages threaten to drag out crisis (The

 
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Mahanaim
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Joined: 23 Apr 2006
Posts: 3187
PostPosted: Tue Aug 19, 2008 10:56 pm    Post subject: 'Liar loan' home mortgages threaten to drag out crisis (The Reply with quote
In the mortgage industry, they are called "liar loans" -- mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job and (no) assets."

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