They Were Us and We Were Them
Emphasis mine:
This point is key. There’s a real tendency to Other subprime mortgage holders. They are idiots, crooks, dupes, minorities, single mothers, easily mislead, liars and criminals, etc. But right here, 28% of all mortgage foreclosures, and 60% of subprime foreclosures, are from people who started with a prime mortgage. Those are the Us – good credit scores, 20% down, pay the bills on time.
-Shlok
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