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It was a relatively small percentage of buyers who fit within that category of obtaining a mortgage with little to no assets, little to no income and having nothing in the end either.
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Does anyone have any stats regarding what percentage of mortgage defaulters during the housing bubble were low income versus middle class? I can't say for certain either way, but I seem to recall reading a story a few years ago that indicated that the bulk of the people walking away from their homes were middle class Americans with jobs who foolishly bought homes beyond their means (after the low introductory interest rate was jacked up).