Mortgage Problem Being Drawn Out
Yves has a post which explains how the mortgage problem is being drawn out. It looks like people are getting 3 years of relief payments in restructuring, but then in 3 years they have the same problem, a mortgage reset to what they can't afford.
How much more of this crap is out there?
Yves has another post showing the excessive liability the bailed out banks owe to these morons that got us into this mess.