Broker Agent News-The Sub-Prime Crisis and How it Affects You - Part One

Have you seen the headlines? Top national news story a few week's ago:
New Century Financial Corp., the second largest sub-prime mortgage lender, is broke. They can't pay the creditors who are demanding money and rumor is that we'll be hearing about bankruptcy soon. Even the New York Stock Exchange has suspended trading for the company, once a giant among lenders.

It finally happened.

The sub-prime market was being pushed to its edge for months - by lenders with unethical predatory tactics - and now it's getting ready to collapse in on itself. These predatory tactics included ridiculous mortgage programs being offered to consumers who literally cannot afford them.

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