The Subprime Mortgage Problem From Various Prospectives

A recent MSNBC article gives an interesting overview of the subprime mortgage lending problem. It reports the story of a New Jersey couple who is currently struggling to survive a negative amortization mortgage. It also reports of a Virginia couple who luckily dodged a bullet a couple of years ago when shopping for a home.

Also reported in the story are comments from the head of HUD's Inspector General's office, a state regulator, a couple of real estate appraisers, and Texas civil trial lawyer David Berg, who is reportedly gearing up to represent defrauded consumers who were duped into subprime mortgages.

For more, see Special Report: The Mortgage Mess.
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