Mortgage Crisis
Home foreclosures surge—no housing boom for poor families in the US
By Naomi Sheehan Groce, June 13, 2005
A little-reported aspect of the housing boom in the US is the corresponding surge in home foreclosures. Amidst a sharp rise in median housing prices, more and more Americans are finding themselves una...
US consumer debt reaches record levels
By Joanne Laurier, January 15, 2004
US consumer debt has reached staggering levels after more than doubling over the past 10 years. According to the most recent figures from the Federal Reserve Board, consumer debt hit $1.98 trillion in...
US mortgage financier in derivatives trouble
What is going on at Freddie Mac?
By Nick Beams, June 12, 2003
The ousting of three top officials from Freddie Mac, the second biggest financier of residential mortgage loans in the US and one of the world’s biggest financial institutions, and the launching...
Britain: Endowment mortgages showing massive shortfalls
By Neil Hodge, September 21, 2002
Just like the great pensions mis-selling scandals that rocked the UK during the last decade and brought misery to millions, another personal finance disgrace involving endowment mortgages could swallo...
