Over the past year, the market value of troubled mortgage lender Countrywide has dropped by about $22 billion. The meltdown set the stage for its acquisition by Bank of America for a paltry $4 billion. And its lending practices arguably set the stage for a global credit crisis.
Today I surfed to a business website and noticed this ad:
[Image]Does this strike anyone else as a bad idea: home loans with no closing costs, no processing fees, no points and -- best of all -- no credit reports?
"Some people never learn"
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