Wednesday, November 14, 2007

A Result of Subprime Mortgages

A report by CNN Money said that "According to the Center for Responsible Lending, 7.2 million households have subprime mortgages, and more than 14 percent of those are in default. It projects that one of every five of those loans issued in 2005 and 2006 will end in foreclosure, with 2.2 million families losing their homes".

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