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Wealth Building Requires Knowing When to Fold Them |
During the housing boom, many banks devised "creative" loans allowing people to borrow money with no down payment and pay low interest rates for the first few years on adjustable mortgages. Now, as interest rates reset higher, more borrowers are missing payments stressing the lender's books. Remember this article from a month ago - Subprime Lenders Gone Too Far: A Time Bomb Waiting to Explode. Today the stock price of one subprime lender exploded. The others were wounded. Read more at: . |