Bankrate has posted a special series explaining the sub-prime mortgage meltdown that is currently in progress in these United States of America. Of particular interest is the Consumer Impact article:

About 85 percent of mortgage borrowers have credit scores of 620 or higher. So far — knock on wood — most of these prime customers needn’t worry about being turned down for home loans on the basis of their riskiness as borrowers, so long as they’re willing to let the lender verify their incomes and assets.

Other sections include an analysis of the Federal debate, and “Lender Implosion” which declares that the industry has itself to blame.—MEGHANN MARCO

Subprime mortgage industry meltdown [Bankrate]
(Photo: drewski2112)

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