eudaimoniac
Confused about dryer sheets
- Joined
- Dec 11, 2007
- Messages
- 9
If anyone knows how to ---- Please explain (in the simplest terms possible) what this "sub-prime Mortgage crisis" is all about.
Trying to follow the media is confusing me even more. I don't know how it turned into a crisis.
Does it have something to do with variable interest rates that shot up and people ended up foreclosing all at once?
Were lenders naive enough to think that when rates went up people would still pay?
Was the rush to re-finance for the last few years partly to blame?
I'm in the dark.......
Trying to follow the media is confusing me even more. I don't know how it turned into a crisis.
Does it have something to do with variable interest rates that shot up and people ended up foreclosing all at once?
Were lenders naive enough to think that when rates went up people would still pay?
Was the rush to re-finance for the last few years partly to blame?
I'm in the dark.......