Applying for a loan or getting more information is easy. Apply Now

Mortgage Meltdown

The subprime mortgage financial crisis, which has yet to be resolved, is the sharp rise in foreclosures in the subprime mortgage market that began in the United States in 2006 and became a global financial crisis in July 2007. Rising interest rates increased the monthly payments on newly-popular adjustable rate mortgages and property values suffered declines from the demise of the United States housing bubble, leaving home owners unable to meet financial commitments and lenders without a means to recoup their losses. Many observers believe this has resulted in a severe credit crunch, threatening the solvency of a number of marginal private banks and other financial institutions

---

Article by Shmuel Shayowitz, President of Approved Funding regarding housing market and Mortgage Meltdown.

 

Click to open article featured on

Yahoo Finance

July 8, 2007

 

 

---

 

---