Bull shit it was not, Let me show you my parents house? All of these defaults on loans it hurting anyone in the already over priced communities.
Look up anything in alkire lakes compare the purchase price with the value now and they've lived there 3 years, And did upgrades.
My old house did the same thing, MI/Dominion fucked Everyone, They got people to buy houses beyond what they could afford based on lies. They wanted me to get a house @ 250K. I got one for 150K and my payments had rose to a point that I was very happy I did not choose 250K.