Please take a minute to read this story in today's Los Angeles Times:
Part of the story line goes: A real estate agent told the family "They were wasting their money (on rent), they could combine their paychecks to buy a home with no down payment."
And .......... "They were advised to get two loans on the home, for which they paid $340,000. The first required a monthly interest-only payment of $1,436, and the second $655. Maria Debora said she asked whether two loans was a good idea, but the agent told them not to worry because they could refinance in just six months."
I find myself wondering if the agent has read the story...... And what he is thinking...........