Only it is not a bucket, it is the U.S. economy. It has been said, the only two products you will ever need to fix anything are “Duct Tape” and “WD-40.” The bucket has been leaking since designer mortgages [My italics] were invented during the Clinton administration, which allowed low-income families to become homeowners. If you were able to sign your name, you were able to get a loan. The emphasis was placed on your credit score not your income. If you had a combined income of $ 30,000, which was inadequate by most loan officer’s standards to get an auto loan, it did not matter. Lenders did not verify income, they only looked at FICO scores. As long as your credit score was at least 690 you could probably purchase a $ 250,000 home. Read more... ...