Mortgage Defaults Are About To Skyrocket

00:00 Housing Market Risks: Easing Lending Standards
01:50 Vantage Scores: Risky Borrowing is Back
03:22 Rising Mortgage Delinquencies Amidst Economic Squeeze
06:02 Adjustable Rate Mortgages Are Becoming Popular Again...
09:43 Major Home Builder Price Cuts
11:17 Home Insurance Crisis: Non-Renewals Spiking
15:14 HOA Nightmare: The $82,000 Shed Lawsuit

Housing market is having its worst year of sales in over 30 years and of course the government wants to get involved by allowing advantage score to be used in order to qualify borrowers for a mortgage. The problem? Vantage scores are typically quite higher than FICO scores which leads to more people qualifying for loans that likely cannot actually afford a house. We already are seeing an uptake in Mortgage delinquencies right now. The problem is likely to get much worse.