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Essay / Research Paper Abstract
This 14-page paper discusses the history of the subprime/housing crisis and the physical and emotional fallout on those foreclosed on. Bibliography lists 10 sources.
Page Count:
14 pages (~225 words per page)
File: AS43_MTsubhomel.rtf
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Unformatted sample text from the term paper:
panic. Fast action from the government managed to avoid the panic, but the inescapable fact of rising unemployment and residential foreclosures hit at the exact same time.
But foreclosures werent anything new. The housing bubble that was anticipated to go on forever finally popped in 2007 as adjustable rate mortgages adjusted, housing values
plummeted and banks seized homes in record numbers. Fingers were pointed - homeowners who found they were paying high mortgages were considered stupid for not reading the fine print of
their contracts, while lenders were excoriated for extraordinarily lax lending practices that put people in homes who had no business being there. The blame went up the chain, to the
regulators, for not having better control over their lenders. Though the blame can be spread far and wide, the consequence is that were
still foreclosing on homes, banks are still seizing homes and families are being forced into situations that are creating stress, tension and physical illness.
In this paper, well examine all of it. Well determine the cause of the crisis, see how this crisis is impacting families, and suggest some potential ways to ensure
that this particular type of crisis doesnt happen again. As with anything along this magnitude, we cant put the blame on just the banks, or just the regulators, or just
the homeowners, or just the Federal Reserve, or just the home builders. All had a hand in the current situation. The Origins of the Subprime Mess
First we need to remember that "subprime" and "bad loan" are not similar. For individuals who wish to make a fresh start, who have had credit
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