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San Diego example of Freddie Mac's work
Response to post #13. You assume incorrectly that Heather lied to get her loan, and if she had not lied, she would be able to make the payments. Heather did not lie. Heather made her payments on-time. However, she eventually got married, moved in with her husband (me), and had to put her condo up for rent. As a result of the market collapse, and her circumstances, she was losing nearly a thousand dollars a month on the difference between rent and her mortgage payment. So...get off your high horse and tell me if you would be able to afford losing that kind of money every month for an indefinite period of time because the market took a dump? I doubt it.— August 6, 2010 12:07 p.m.