waiting for us right now to talk more about it is rick sharga of ten-x, an online real estate sales and auction company, and john taylor, president and ceo of the national community reinvestment coalition. gentlemen, thank you both being here. you know, rick, we all thought the housing bubble burst and at that point you were an analyst during the foreclosure crisis. you say you see red flags here. what are they? >> zero down payment loan programs have been spectacul failures in the past, and really it's because most of the people who have been able to get these loans simply haven't been ready for the financial responsibility of home ownership, and that's one of the reasons that lenders historically have looked for some down payment, not necessarily 20% down payment, but just a show of financial responsibili f discipline that indicates that borrower is ready for the financial burden that home owners often implies. >> john, that's what we always call skin in the game, we want people to feel like they losi something. you think this is a good. is that? >> first off, we're not talking about

waiting for us right now to talk more about it is rick sharga of ten-x, an online real estate sales and auction company, and john taylor, president and ceo of the national community reinvestment coalition. gentlemen, thank you both being here. you know, rick, we all thought the housing bubble burst and at that point you were an analyst during the foreclosure crisis. you say you see red flags here. what are they? >> zero down payment loan programs have been spectacul failures in the past, and really it's because most of the people who have been able to get these loans simply haven't been ready for the financial responsibility of home ownership, and that's one of the reasons that lenders historically have looked for some down payment, not necessarily 20% down payment, but just a show of financial responsibili f discipline that indicates that borrower is ready for the financial burden that home owners often implies. >> john, that's what we always call skin in the game, we want people to feel like they losi something. you think this is a good. is that? >> first off, we're not talking about