Overview

Why are there so many foreclosures? Why would banks, the pillars of fiscal responsibility and risk aversion, lend money to people who couldn't afford to repay their loans? How did Wall Street manage to hide the risk and sell the subprime mortgages? How did the subprime mortgage business unravel and evolve into a worldwide liquidity crisis? What are the frauds and scams, how do they work and what should you be aware of? What is the forecast for the future and what conclusions can be drawn? You will find the answers to all of these questions and more in this book. It is an easy-to-understand and easy-to-read collection of analyses, stories and experiences about the real estate business, the mortgage business and the subprime market in particular.

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9781438236612

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Author Information

Charles has a Bachelor of Science from the University of Illinois, School of Business at Champaign, Urbana and has been involved in the real estate business for more than 25 years. He purchased his first real estate property in 1982. Since that time he has owned a total of 17 residential rental units. He has also bought and sold a few single-family properties: a home for rehab, a teardown for new construction and a vacant lot for new construction.

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