The Sub-prime MeltdownPosted on November 5, 2008 in Sub-Prime Mortgages in Arizona
Much has been said that the cause of the current economic crisis is the sub-prime mortgage meltdown. This is almost always followed by stories of ‘folks’ losing their homes. However, when all is said and done, history will show that a huge percentage of the foreclosures were caused by borrowers who owned multiple homes, i.e., INVESTORS.
Who got these INVESTORS to invest in homes financed with sub-prime mortgages will be the subject of real estate litigation for years to come.