Ross asked:
I still just don’t understand it completely. Apparently investment banks bought up home loans from mortgage places and banks, the home buyers defaulted on them.
I still just don’t understand it completely. Apparently investment banks bought up home loans from mortgage places and banks, the home buyers defaulted on them.
But is this all that is to it? And who encouraged the banks to make these loans and why did the demand for the houses go down with time as people were still paying these loans.
JASON