Summary of The Housing Market Is Going Insane | $0 DOWN MORTGAGES ARE BACK

00:00:00 - 00:10:00

The author discusses the recent trend of banks reintroducing "no money down" loans for first-time homebuyers, with a catch. Some people are worried this will lead to another housing crisis, while others argue it could help more modest income and first-time homebuyers achieve the American dream of homeownership. The author gives some advice on how people should be careful when purchasing a home, as banks may not be willing to underwrite loans for people who have debt above their home's value.

• 00:00:00 This 1-minute video covers the recent trend of banks reintroducing "no money down" loans for first-time homebuyers, with a catch. Some people are worried this will lead to another housing crisis, while others argue it could help more modest income and first-time homebuyers achieve the American dream of homeownership.
• 00:05:00 Bank of America is currently piloting a program where homeowners can apply without a minimum credit score or income. Some potential downsides of this program include that it is not widespread enough to have an effect on the housing market, and that borrowers are exposed to increased risk if the market falls.
• 00:10:00 The author discusses how people should be careful when purchasing a home, as banks may not be willing to underwrite loans for people who have debt above their home's value. Additionally, the author speaks about how Public.com is giving customers up to 10,000 dollars as a bonus if they transfer their account to Public.com.