No Doc loans | Gustancho Mortgage (Real Estate - Apartments, Houses for Rent)

Item ID 15348907 in Category: Real Estate - Apartments, Houses for Rent

No Doc loans \| Gustancho Mortgage
No doc loans, also known as "no documentation loans" or "stated income loans," were mortgage loans that did not require borrowers to provide documentation to verify their income or assets. The borrower stated their income on the loan application without having to provide pay stubs, tax returns, or other proofs. This made it easier to qualify for loans.No doc loans were popular during the real estate and mortgage lending boom in the early to mid-2000s. They allowed people to get mortgages even if they didn't have the documentation to back up their stated income or assets. However, no doc loans contributed significantly to the rise in high-risk and poor-quality mortgages leading to the 2008 financial crisis. Borrowers often exaggerated their income without consequences.
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Target State: All States Target City : All Cities Last Update : Sep 01, 2023 2:49 AM Number of Views: 71	Item Owner : Gustancho Mortgage Contact Email: Contact Phone: (None)

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2024-05-04 (0.224 sec)