eBook (PDF), 116 Pages
Why are there so many foreclosures? Why would banks, the pillars of fiscal responsibility and risk aversion, lend money to subprime borrowers who couldn't afford to repay their loans? How did Wall Street manage to hide the risk and sell the subprime mortgages? How did the subprime mortgage business unravel and evolve into a worldwide liquidity crisis? What are the frauds and scams, how do they work and what should you look out for? What's the forecast for the future and what conclusions can be drawn?
Available in PDF Format
Ratings & ReviewsLog in to review this item
1 Person Reviewed This Product
Oct 15, 2009"Subprime Meltdown" With the current subprime meltdown taking place within the US Economy, many people are losing their homes and millions more are worried about how they are going to make their mortgage payments. In his book, Subprime Meltdown: From U.S. Crisis to Global Recession, author and real estate expert Charles Brownell addresses how the subprime mortgage was created, how it works, and what factors led to the current subprime mortgage crisis. In 114 pages, Brownell succeeds in providing a comprehensive understanding of how a number of different sectors contributed to this crisis which has resulted in far more world wide implications. Brownell explains how the Federal Government and Congress instigated the current crisis between 1975 and 1980 when they passed legislation that forced financial institutions into the subprime market stating that it was discriminatory not to give loans to low and moderate income people. He details how the financial institutions could... More > not afford to give loans that were considered high risk so they came up with clever ways to profit. A number of the ways that he describes were very shady and ended up costing mortgage holders much more than they thought. As well, he shows how practices of financial institutions resulted in what is known as predatory lending. People lacking knowledge on subprime mortgages will find the book very easy to understand. Brownell provides clarity on a very confusing subject. Not only does he explain how mortgage lenders work with financial lenders to ensure the best profit for them, he also provides an account of all those hidden fees that people often don’t know about. As well, he offers solutions on how to reduce the chance of another subprime mortgage crisis from recurring. For those seeking advice on how to make sure they choose a mortgage that they can afford, helpful tips on managing your money and what to look for when choosing a mortgage are provided. The book is a very educational read for those trying to make sense of the subprime mortgage market. Although it is about a serious situation, it is very optimistic with an important message of the need for consumer education. Tracy Roberts, Write Field Services< Less
There are no reviews for previous versions of this product
- Standard Copyright License
- September 29, 2011
- File Format
- File Size
- 592.73 KB
- Product ID
Formats for this Ebook
|Required Software||Any PDF Reader, Apple Preview|
|Supported Devices||Windows PC/PocketPC, Mac OS, Linux OS, Apple iPhone/iPod Touch... (See More)|
|# of Devices||Unlimited|
|Flowing Text / Pages||Pages|
|Learn more about ebook formats and e-readers|
Your notification has been sent
Lulu Staff has been notified of a possible violation of the terms of our Membership Agreement. Our agents will determine if the content reported is inappropriate or not based on the guidelines provided and will then take action where needed.
Thank you for notifying us. We will email you with the results and/or actions taken as a result of the investigation if you chose to receive confirmation.
We were unable to complete your request.
We were unable to complete your request.
- Subprime ,
- mortgage ,
- credit crisis ,
- CDO ,
- foreclosure ,
- real estate ,
- fraud ,
- scam ,
- securitization ,
- federal reserve ,
- congress ,
- wall street ,
- credit rating agencies ,
- forecast ,
- financial ,
The page you are attempting to access contains content that is not intended for underage readers.
Please verify your birth date to continue.