Archives for December 2007

Mortgage Plan Assures Recession

The White House mortgage rescue plan to aid subprime borrowers sets in motion a series of events that could send the U.S. economy reeling into a deep recession, perhaps even worse should the government not require lenders to freeze interest rates for many borrowers, according to a Housing Predictor review. More than 2-million subprime mortgages are due to be reset in the next 18 months, and because of falling home values hundreds of thousands … [Read more...]