Stop Bank Foreclosures Tips

Although Smith and her husband were “viable citizens with good credit,” they were quickly steered into an expensive subprime loan with ballooning payments and hidden fees that they couldn’t keep up with. Their home’s builder was indicted and the mortgage broker was quickly revealed to be collaborating with the builder to, as Smith put it, “unload crappy homes for pretty quick money.”

The bundling and reselling of mortgage loans as securitized investments on Wall Street was one of the principal factors in the housing crisis, which bled over into a full-scale economic meltdown.