From washingtontimes.com
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Subprime Mortgages
How will subprime mortgages, and more importantly defaults of subprime mortgages impact the real estate market as well as the US economy as a whole?
Reverse mortgages could be the next subprime crisis. Some of the same subprime lenders that helped drive the real estate boom with loans to home buyers who couldn't afford the payments are now targeting seniors, the National Consumer Law Center warned Tuesday. Brokers, who are given financial incentives to sell the loans, may be making misleading claims to potential customers, according to a report by Boston-based NCLC. "This market is...
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