Subprime Mortgages, Home Equity Scam Artists Hammering Prince George's County

Buried in a story on the foreclosure problem in Prince George's County, Maryland, WRC-TV Channel 4 reports:

• State and county leaders said the [foreclosure] problem is bad and getting worse. Prince George's County had just more than 1,200 foreclosures in the entire 2006 fiscal year.
  In the first three quarters of the current fiscal year, the number has totaled more than 3,300. Labor, Licensing and Regulation Secretary Tom Perez said the county primarily suffers from two problems: a disproportionate amount of homeowners with subprime loans and a high number of scam artists. "Our investigators are spending a lot of time in Prince George's County investigating cases involving scam artists who are swindling very hardworking Prince Georgians out of their homes," Perez said.

For more, see PG Officials Hold Forum To Discuss Foreclosure Problem (read story) (watch video).