Wednesday, October 10, 2007

US mortgage crisis predicted to get worse as home loan defaults soar

10.10.07
America’s mortgage crisis is likely to get considerably worse because the level of fraudulent lending to unsuitable borrowers was much higher than previously estimated, Standard & Poor’s said yesterday.
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article2624571.ece

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