subprime mortgage

New York Times (NYT) economics reporter Edmund L. Andrews shocked his readers recently by revealing that he was on the verge of losing his house due to an ill-considered subprime mortgage. In his upcoming book Busted: Life Inside the Great Mortgage Meltdown, he details how he was sucked into buying...

Yesterday, Fed Chairman Ben Bernanke announced proposed rules to help protect consumers getting mortgages. The general theory seems to be that the subprime mortgage mess was created because mortgage companies scammed borrowers. I do believe that happened in some cases, but the 1% home mortgage...

Some real estate and mortgage experts say that the mortgage industry hasn't hit bottom yet, because here's what's up next: Consumers with prime mortgages bailing out on their financial obligations. If these consumers with good credit and the ability to pay their mortgages don't make good on their...

U.S. Treasury Secretary Henry Paulson is urging Congress to pass pending legislation (subscription required) that would amount to a "bailout" of subprime borrowers. He argues that the mortgage problem has negatively affected the economy, and this will help stop the bleeding.The proposed legislation...