realtor at Brave New Films

Inside the US subprime crisis 01 April 2008

2008-06-13T15:33:18Z

The subprime mortgage crisis in the US is being felt deeply by those in the business of selling homes.
With property sales dipping across the country, property agents are feeling the pinch.
Adam B. Salem is a property agent in the state of Virginia who has a lot of clients, many of them immigrants, who took out subprime loans they can't re-pay.

He tells his story in his own words.

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Real Estate Woes: The Subprime Mortgage Crisis by CAP

2008-07-14T12:44:46Z

http://www.americanprogress.org/issues/2008/01/barr_testimony.html

With 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 visit
THE CENTER FOR AMERICAN PROGRESS
www.AMERICANPROGRESS.org

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Profit from the Mortgage Meltdown of 2007 by theFernandezGroup.com Part 1 of 3

2008-06-12T03:32:13Z

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Real Estate: Subprime Meltdown - CAP's Jakabovics on CNN

2008-06-08T03:30:07Z

www.AMERICANPROGRESS.org
Andrew Jakabovics of the Center for American Progress tells CNN's Lou Dobbs Tonight that according to a recent CAP study, 38% of new home loans are underwater -- in other words, the mortgages are worth more than the houses. Dobbs' commentary after the report skewers the Bush administration's response to the housing crisis.

http://www.americanprogress.org/issues/2007/11/abusive_lending.html

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Real Estate Woes: Families Feel Pressure On Mortgages

2008-06-08T03:30:12Z

Center for American Progress Senior Economist Christian Weller delivers some worrying news about the economy and the real estate market nationwide: new data reports that mortgage delinquencies are on the rise. That's bad news for the economy as it affects people seeking credit, trying to get loans, start busineseses and create jobs.

For more on the housing data please see:
http://www.americanprogress.org/issues/2006/12/delinquency.html

WWW.AMERICANPROGRESS.ORG

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Real Estate Woes: Subprime Mortgages Are a Ticking Timebomb

2008-06-08T03:30:51Z

Center for American Progress Senior Fellow Dr Christian Weller appeared on CNBC to discuss subprime mortgages and how consumers can protect themselves.

For more on subprime mortgages and foreclosure rates please see:
http://www.americanprogress.org/issues/2007/03/foreclosures_numbers.html

What if 40 hours a week were enough?
www.AMERICANPROGRESS.org

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