Thursday, March 15, 2007


Here is an article about the sorry state the mortgage industry is in and how much it is going to SUCK in the coming years. The value of my house has already dropped a fair amount, unfortunately. :(


Now they are also a major reason the subprime mortgage market is melting down, why 1.5 million Americans may lose their homes to foreclosure and why hundreds of thousands of homes could be dumped on an already glutted market. They also represent a huge cloud hanging over Wall Street investment houses, which packaged and sold these mortgages to investors around the world.

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