Should the government bail out borrowers in trouble?
More than 2 million borrowers will lose their homes to foreclosure because of subprime mortgage lending in recent years. With the housing market booming, lenders enticed many lower-income people into buying homes they couldn't afford by offering adjustable-rate mortgages (ARMs) with temptingly low initial teaser interest rates. Many loans didn't require down payments or documented proof of income.
Congress and the Bush administration are debating how to help borrowers keep their homes and whether tough, new lending standards are warranted.
- Should certain kinds of risky home loans be banned?
- Should the government “bail out” borrowers caught in the mortgage meltdown?
- Will the mortgage crisis trigger a larger financial crisis in the United States and elsewhere?
To read this article and others visit our Articles and Databases webpage http://www.swccd.edu/~library/articles.htm and click on CQ Researcher. Select the Access Off-Campus link for information on how to access this resource from off campus locations.
What's New @ SWC Library
No comments:
Post a Comment