June 15, 2008
Sub-Prime Mortgage Fiasco Explained…Using Stick Figures
We have all heard about the "sub-prime" mortgage crisis, but do you really understand what it is all about and why the collapse of the sub-prime market has lead to a decline in your local real estate market as well as a decline in the American economy in general.
The BankruptcyProf blog, edited by Professor Jonathan Hayes of the West Los Angeles School of Law explains why sub-prime mortgages are a problem and why this market collapsed. The explanation consists of a PowerPoint presentation using stick figures. If only Economics 101 was so clear and enlightening.
Take a look and let me know what you think.
Filed under Consumer protection, Foreclosure issues, General consumer bankruptcy info by Jonathan
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