Monday, October 29, 2007

American Nightmare

Eleanor Hall is a single mother with two children and has a steady job as a market researcher. Five years ago she bought a house which she has lovingly restored.

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.

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