There is no shortage these days of tragic stories of homeowners caught in America's subprime mortgage meltdown, as risky borrowing, reckless lending and a slump in the housing market drives millions into foreclosure.
"The more people who own their home, the better off America is," President George W. Bush said in a 2004 speech. "See, we want more people owning something because when somebody owns something, they have a vital stake in the future of the country."
But with an estimated 1.5 million homeowners facing foreclosure this year, Congress is now looking at tighter lending standards to protect unwary Americans from taking on loans they cannot afford.
2007-04-05
00:48:30
·
10 answers
·
asked by
titanman911
1