Mortgage Meltdown

Published on 01 April 2009 by brian_alg in Credit, Investment Mortgages, Residential Mortgages

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The subprime mortgage meltdown had a chaotic effect on the US economy and world financial markets in 2008. After the subprime banks closed en masse, the Alt-A lenders were shut down, eliminating all aggressive financing options in the US mortgage market. This has led to a major credit crunch and has had a disastrous effect [...]

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