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by CareyBot

By DAVID FLETCHER It seems like just a few months ago that unqualified buyers were purchasing overpriced homes for no money down and approved for a mortgage with no closing costs they could not afford, supported by "made-as-instructed" appraisals. Overpriced condominium developments sold out in a weekend to buyers who just wanted to brag about owning one, or so it seemed. Those who obtained a 30-year fixed-rate mortgage seemed embarrassed to admit it to their much smarter friends, who bought with a first and second mortgage and had nothing invested. Who among us had the thought to challenge the fact that mortgage costs came in higher than the good-faith estimates? Those were the days of: "Welcome to homeownership, everybody!" Then one day, as this unreal wo...