Usually this post is one of some crazy video’s of someone doing some sort of ninja impression. But this week something different. A quick lesson. Ninja Morgages actually exist. What they are is when a bank gives a loan to someone with no job, no income or no assets which was what was happening in America that contributed to the sub prime crisis. And people wonder why these sub prime market collapsed? From the Daily Telegraph.
‘Ninja’ loans explode on sub-prime frontline