The fright among investors is forcing lenders to go back to more-conservative practices that were the norm before the housing boom of the first half of this decade. Many now are focusing on loans to borrowers who are willing to document their income, can make a down payment of at least 5% and have a history of paying bills on time.
Wait, you mean they're only going to lend to people who can demonstrate they have the capability to pay it back? How peculiar.
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