| Hightower's Video Guide SubPrime Mortgage Rip Off |
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| Contributed by Jim Hightower | |
 Hightower Guide "1- No Money Down, Zero Interest - The borrower sees a great deal, 2- Meets with broker who, 3- connects him with lender (quicky mortgage) who straps him to a loan, 4- Lender sells loan to hedge fund, 5- They repackage this and other sub prime loans into securities that are then sold to rich speculators, 6- who put it is tax havens. Meanwhile our unsuspecting borrower finds his mortgage adjusted upwards by $500 a month..., Foreclosure..., Bankruptcy. Estimates are $200 Billion of these loans could go into default and shake Wall Street's very foundation.
Visit: hightowerlowdown.org Visit: acorn.org Visit: acornhousing.org |
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