TheRealDeal – Second wave of mortgage crisis to come

• Related • Filed Under


In a segment on CBS that aired yesterday, 60 Minutes correspondent Scott Pelley talks to investment and credit experts about the new types of mortgages that will create a second wave of foreclosures. The country has already suffered the subprime mortgage crisis, and the experts say the next wave of risky mortgages to default are the Alt-A and option ARM mortgages, which were also bundled into Wall Street securities and sold to investors. For more information plesae click the link: www.cbsnews.com

Tag:

scott pelley slavik village ohio

Related Interesting Article You May Read

    There Are 21 Responses So Far. »

    1. Comment by abanikka on 5 January 2011:

      How can we estimate when this will end when it is not clear what the long term status of the job market will be? What reasons do we have to believe that the job market will turn around? What reasons do we have to believe that our wages will increase and that cost’s will go down? What reasons do we have to believe that we have stabilization in health care costs and finally what reasons do we have to believe we will ever see S.S. and medicare? It is not just housing. We are in trouble in every way

    2. Comment by Ibuysellinvest on 5 January 2011:

      WOW HUGE SCAM WE ARE STILL IN

    3. Comment by Ibuysellinvest on 5 January 2011:

      @jandean61 RIGHT ON

    4. Comment by ghostlaw1980 on 5 January 2011:

      R we only capable of passing greed laws at this point. I want a mortgage that is adjustable. Adjustable to fair market value. My grandfather took out a loan 50 years ago to start a business. They gave him ten years to repay it. He repaid it in one year. The next year he bought a house free and clear. To all the BMW driving pinto owners, your getting what you bought. Insecurity. I want what I pay for.

    5. Comment by rigoletto68 on 5 January 2011:

      the only people recommending buying a house are real estate agents. Renting is so cheap it just makes no sense to buy an asset (house) and watch it lose value over the next five years.

    6. Comment by jandean61 on 5 January 2011:

      2014 is when this will bottom out.

    7. Comment by jandean61 on 5 January 2011:

      “cashing in on selling them.” ……that’s the business.

    8. Comment by Beingreal40 on 5 January 2011:

      That guys feels so guilty to clear out the homes, but he had no problem cashing in on selling them.

    9. Comment by moniequa on 5 January 2011:

      Oh happy day, oh happy day, oh happy day, when the fed wash, wash the stupid ones away. I love it.

    10. Comment by moniequa on 6 January 2011:

      Can we still borrow and buy indiscriminately? We love to borrow and buy, you know. LOL

    11. Comment by condorito29 on 6 January 2011:

      I suppose you know more than eeeevrybody else, right?
      More than these guys, more than the economic advisors of every major nation on earth, including our own….etc etc.

      Who knew?
      Maybe YOU should go on 60 minutes…LOL.

    12. Comment by condorito29 on 6 January 2011:

      this country is going to collapse and break into ideological factions fighting to “restore” the nation, which in reality will be jackals ripping apart the dead carcass of what once was the United States.

    13. Comment by WolYou on 6 January 2011:

      Actually, the soviet union has already outmoded the USA. It just looks different, but your economic “system” leads to the same result. Anyway, this crisis affects less than 1% of the worlds wealth. Its funny how much panic is going on just because some anal-ysts are predicting further crashes. Its like suspecting a car will explode because one backlight is defect.

    14. Comment by dcm05002 on 6 January 2011:

      this country will collapse. the second you hear of a 100billion dollar auction in t-bills and only and 82billion offer.. watch the dollar inflate to the sky. thar is atleast a couple years away. The fed caused the bubble. The government wont let it deflate.. print print print.. lost confidence in bond market down the road = THE END. we are the new soviet union

    15. Comment by Jzeaser on 6 January 2011:

      are you for real

    16. Comment by theratfarmer on 6 January 2011:

      how can a home owner be resposible for 90% of any mortgage loan? for example, a 100k loan, from a bank, for a mortgage loan is 90% made up out of thin air. “fractional reserve banking”. so, the way i see it is, the home owner only owes 10% of the loan (10k). how can a bank loan the money if they don’t have the other 90% (90k) of money? legally the home owner owes only 10% of the mortgage.

    17. Comment by mannyfeseha on 6 January 2011:

      thehelpfund.blogspot

    18. Comment by blueblazer68 on 6 January 2011:

      We are so screwed

    19. Comment by DrewDownsManagement on 6 January 2011:

      Very informative video. I took some notes on the video and how it was done. I gave it 5 stars. Check out our vids and tell me what you think? We have some good stuff also.

    20. Comment by 3089280288 on 6 January 2011:

      What if you include the possibilty of the auto makers going under? 10 million foreclsures in 3 years?

    21. Comment by motonegros on 6 January 2011:

      Wonder if “Oscar” ever gets to move out a family he himself conned into buying an overpriced house that he knew they couldn’t afford.

      How do you think Oscar feels about that?

    Post a Response