Subprime once hurt the elderly, now hurts the world

Subprime lending once hurt the elderly in the United States. It only took three more years for subprime to hurt all borrowers and the entire world economy. Back in 2004 subprime was not necessarily predatory lending. Others argued that mortgage fraud became predatory lending, which then evolved into subprime. Regardless of the position you take …

Mortgage Reset Numbers and Resets Defined

A reset is when an adjustable rate mortgage goes to the next interest rate level, thus increasing the mortgage payment. Adjustable rate mortgage resets through the end of July 2007 were $197 billion (USD). That is less than what is projected for February and March – and just February and March – of 2008. The …