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What Caused the Financial Meltdown?
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<blockquote data-quote="1989" data-source="post: 401941" data-attributes="member: 10280"><p>When I bought my first house in 1992 I had to pay the typical down payment and closing costs but had to prove where the money came from. I wasn't able to borrow the money, not even from family members.</p><p> </p><p>When I bought my second house in 1999 I could finance the closing costs and could put down much less money. They also had 125% refinance loans.</p></blockquote><p></p>
[QUOTE="1989, post: 401941, member: 10280"] When I bought my first house in 1992 I had to pay the typical down payment and closing costs but had to prove where the money came from. I wasn't able to borrow the money, not even from family members. When I bought my second house in 1999 I could finance the closing costs and could put down much less money. They also had 125% refinance loans. [/QUOTE]
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