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NINJA mortgages. No Income, No Job, or Assets. There is actually a good business in providing mortgages to people who have income, jobs or assets, but who can'
by Merrill 7y ago
NINJA mortgages. No Income, No Job, or Assets.
There is actually a good business in providing mortgages to people who have income, jobs or assets, but who can't/won't provide documentation because of their legal status or the nature of their job/assets. They are actually good credit risks because they don't want any of the attention caused by debt collection and/or bankruptcy proceedings.
But some mortgage brokers took it way to far to people who simply did not have those things.
- omginternets 7y agoSo short answer, yes? Or am I missing some nuance in your explanation.