What the Subprime Lending Crash is Going to Do to You

The word is out. Ben Bernanke’s famous “contained” statement about the subprime lending crash from not too long ago has been considered way wrong, and now rumors are flying of an emergency Fed meeting. The “shoddy” lending practices espoused by banks and brokers for the last decade have finally caught up with the U.S. economy. And in a big way. But how will the subprime lending crash affect you? Well, it depends on where you are standing.
Sure, lending standards are going to tighten. But on the other hand, mortgages rates have dropped already. And if the housing market and the …read more