The movie 'The Big Short' has given us insight into the role of the financial institutions in the housing crash. Remember back in the early to mid-2000s when interest rates were low, financing was creative and mortgage loans were given out like candy by some unscrupulous lenders? Properties were appreciating so quickly that homeowners were often encouraged to refinance and use the rising equity in their homes for debt consolidation, home improvements, college tuition and vacations.
