"The problem use to be just bad less than prime mortgage lending standards, which along with (some) lender greed, and massive levels of borrower financial illiteracy.  The problem today is that unless you have a 30% down payment say an 800 credit score, you aren't getting a (mortgage) loan, period."

John Hope Bryant, on the mortgage crisis and its aftermath.

Mr. Bryant founded Operation HOPE, along with its Mortgage HOPE Crisis Hotline, which has helped restructure more than $500 million in subprime mortgages, and the HOPE Financial Dignity Centers, which have placed hundreds of low wealth individuals successfully into sustainable homeownership, and the new 700 Credit Score Initiative, which seeks to stabilize borrower and community alike.




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