World-News

Mary Kane reports for The Washington Independent: "The debate over what caused the mortgage mess and how best to fix it is now taking a sharp turn, as new problems surrounding liar's loans and payment-option mortgages reveal the pervasive fraud, lying and deceit that permeated the market at its height."

http://www.truthout.org/docs_2006/050408E.shtml



Fraud Worsens Foreclosure Crisis

Mary Kane, The Washington Independent: "How lenders pushed deceptive and high-cost loans on first-generation homeowners, without disclosing the consequences, assuring them that home values only go up. How people bought expensive cars, timeshare vacations and boats - and put their homes at risk. How lenders continue to target the community and push loans. And how homeowners, with years of mistrust in mainstream lenders, wait too long to get help when they fall behind on their loans, wary of trying for a short sale or a loan workout, and so fall prey to foreclosure scams."

http://www.truthout.org/article/fraud-worsens-foreclosure-crisis



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