Why the economy went to H E double hockey sticks: Why did the housing bubble burst
The fact it was called a housing bubble is a giant clue!
Sub prime mortgages are mortgages targeted at borrowers with less-than-perfect credit and less-than-adequate savings( read low income).
An increase in subprime borrowing began in 1999 ( read clinton ) as the Federal National Mortgage Association (widely referred to as Fannie Mae) began a concerted effort to make home loans more accessible to those with lower credit and savings than lenders typically required. The idea was to help everyone attain the American dream of home ownership ( and buy votes fo...
CHECK IT OUT: Paul Mcilwaine's "Evil Woman Blues", awesome Country Blues with Amazing SLIDE GUITAR!
Bryan of Bminorstudios collaborating on Vocals.
*****CHECK IT OUT******
Click the Pic or follow this link: http://members.soundclick.com/paul+mcilwaine