Loading ...Anybody remember zero down no documentation 105% liar loans?
Many of those loans were predatory products such as hybrid adjustable-rate mortgages with balloon payments that required serial refinancing, or negative amortization, mortgages that increased the unpaid balance over time.
I was talking to someone that had one of those trick loans. The climbing payment combined with climbing property taxes that went from $8k to $17k the payment tripled.