A defense of zero down mortgages

The subprime mortgage firms of old stuck their hapless customers with endless hidden fees and charges and left them to choke on teaser rates set to skyrocket a few years down the road. These were loans designed to simply to enrich shady lenders and brokers. And they were all but destined to self destruct.

MassHousing's Gleason points to two safeguards the state housing authority has put into place on its new, Affordable Advantage mortgages.