Tons of mortgages leading up to the crisis were no documentation loans, and as long as the borrower had semi-decent credit, they could generally qualify for a loan, even a jumbo loan! Yikes. Yikes. While I don’t know the exact number, I wouldn’t be surprised if no-doc loans held a majority for some time in 2005-2008.
In most cases, for the observed borrowers, the ones that defaulted on their mortgage typically saw a drop in income prior to default regardless of whether their total DTI at origination was above or.
Getting a Mortgage When You Have Assets But No Income.. Get free regular updates from Can I Retire Yet? on saving, investing, retiring, and retirement income. New articles weekly. Join more than 18,000 subscribers. Unsubscribe at any time:. but might be worth it if we could qualify for a.