Thousands Line Up for Zero-Down-Payment, Subprime Mortgages

October 12, 2018 | CNBC Magdalene Altidor lost her home to foreclosure during the subprime mortgage crisis, but this week she was first in line at a four-day event in Miami where borrowers with poor credit were offered no-down payment, low interest rate loans.

"I left home, it was about 4am," she laughed. "I'm ready to purchase a home."

The event is one of several being held in cities across America this year, run by the non-profit, Boston-based brokerage, Neighborhood Assistance Corporation of America, or NACA.

"It's a national disgrace about the low amount of homeownership, mortgages for low and moderate income people and for minority home buyers," said Bruce Marks, CEO of NACA. "In the loans that we've originated in the past 6 years, zero foreclosures." Read more here.