What she didn't realise was that her mortgage was a subprime - a home loan designed for people with a low income or bad credit. They cost more than ordinary mortgages to cover the risk of the banks making the loan.
Now, she is unable to pay and left facing homelessness. "I'm truly at rock bottom," she says, "and I have nowhere else to go".
Eleanor is not alone - over two million families are expected to lose their homes in the US within the next couple of years.
http://news.bbc.co.uk/2/hi/programmes/this_world/7063977.stm
No comments:
Post a Comment