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Real Estate Woes: The Subprime Mortgage Crisis by CAP

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http://www.americanprogress.or... each passing release of housing-related data, the picture becomes bleaker for the estimated 1.8 million homeowners with subprime mortgages whose interest rates have reset this year or are due to reset before the end of next year. Many of these borrowers and their families hold the 22 percent of adjustable rate subprime loans currently delinquent or the 3.84 percent of subprime loans that entered foreclosure in the second quarter of this year. For those still current on their loans, they can look forward to increases in monthly payments averaging 30 percent to 50 percent when their rates reset.There have been a number of proposals offered to help these and other troubled borrowers, but the range of solutions suggested to date still leaves a significant number of families without any solution to their problems.For more of CAP's work on the current housing crisis please visitTHE CENTER FOR AMERICAN PROGRESSwww.AMERICANPROGRESS.org

Channel: News & Politics
Uploaded: December 31, 1969 at 5:59 pm
Author: seeprogress

Length: 01:27
Rating: 5.00
Views: 2671

Tags: bank  co  credit  debt  estate  finance  foreclosure  house  market  money  mortgage  progressive  real  realtor  subprime  

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Video Comments

tellthetruthh (December 31, 1969 at 5:59 pm)
HISPANICS were the major group to hold SUBPRIME LOANS. HISPANICS were given loans when other groups could not get them. Now they want to be bailed out of their mess!!!If they weren't so greedy they would not be in this situation. Most of them didn't even have SSN oe EINS.Now BUSH has made it possible for them to get bailouts without SSN or EINs!!!S0illegals aliens are milking the system again!!! While Americans pay the bill!!!
blackacadian (December 31, 1969 at 5:59 pm)
Quick and to the point. Another fine example of governmental deregulation.
jediknight1988 (December 31, 1969 at 5:59 pm)
Great video of this issie.
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