The Next Mortgage Crisis

By Justin Gardner | Related entries in Economy, Housing, Video

The subprime mess was just the beginning.

Because this time it’s not the low income mortgages.

This is truly frightening stuff folks. I can’t help but think it’s going to get REALLY bad before it gets better.

This entry was posted on Wednesday, December 17th, 2008 and is filed under Economy, Housing, Video. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “The Next Mortgage Crisis”

  1. kranky kritter Says:

    Saw most of this the other night. The way we get through the problems with upcoming problems including defaults on various mortgage loans is by identifying situations where borrowers have sufficient income to pay for said home based on reasonable valuations, and then refinancing or renegotiating these loans to viable and sensible compromise terms.

    What we need to maximize is the number of properties with stable sustainable ownership. We should avoid bailing out banks and other holders of investments whose worth is based on unsustainable poorly structured loans. And we should also avoid bailing out home “owners” who are now, for whatever reason and under whatever circumstances, stuck with a mortgage on a home that they can’t afford to own based on something like that home’s current value and the debtor’s current or reasonably expected income.

  2. Donklephant » Blog Archive » Alt-A Mortgage Backed Securities Downgraded Says:

    [...] when I highlighted a 60 Minutes piece back in December that talked about [...]

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