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You left out 2nd mortgages, and even third mortgage HELOCs! Some granted at more than 100% LTV!!! And some granted based on "stated income" no documentation ( derisively called "LIAR LOANS"). For an industry with as much regulation as we had in mortgages and banking, this sured did get screwed up.And dont forget, it was Congress that thought all of this was a very very good idea, they were promoting home ownership. When you cant sell you home, send your thanks to Chris Dodd.