THE PROBLEM IS ….nothing funded. The closing costs and first year of payments were paid back by 99 percent of all Legacy borrowers. The remaining balance accrued to 125 percent of the note over ten years leading to default.
If this is the new standard we have lost home ownership in America. That means only the very wealthiest of Americans were tipped off and can afford to form a Trust and fund their own mortage. They still own their homes .
As one well respected realtor told me “Does it really matter?”
You be the judge!