The subprime mortgage lending crisis, in which thousands of American mortgage borrowers were sold unsuitable mortgages that they could not afford, has created a debt crunch that is leaving many people without a home.
Both lenders and brokers, many of which are now bankrupt, have been cited as being irresponsible and providing dubious advice. Aggressive arrears management is also driving a massive increase in mortgage arrears, repossessions and driving families out of their homes.
A warning from the UK Citizens Advice Bureau also hammered UK lenders and brokers, and warned people on low incomes to avoid inappropriate advice from them. The CAB said that the government has to address these issues, and that brokers should check that borrowers can meet the life of the loan when it comes to mortgage repayments .
The CAB said that problems with mortgage and secured loan arrears were soaring.
Subprime mortgage crisis creating homeless in America
Mortgage Quote Line
0845 108 0505
Subprime mortgage crisis creating homeless in America
Wed, 12 Dec 2007
Recommended links
Mortgage enquiry formIntroduction to mortgages for first-time buyers
Mortgage interest rates
What to do when interest rates go down
Mortgage fees and costs
Mortgage rates cut by top lenders
Housing market may see real decline
Mortgages and Poor Credit Ratings
Tracker mortgages
Understanding conveyancing
Bridging loans - what are they?
Home-buyers surveys explained
Debt search results
Financial Services Authority will warn on subprime mortgage market
Financial Services Authority warns over sub-prime mortgage dealing
Near and sub-prime mortgage market to grow by 20% in 2 years
Sub-prime mortgage overview
The FSA strike sub-prime mortgage brokers
Sub-prime mortgage lenders disagree
Wales facing first-time buyer crisis, expert warns
Debt crisis linked to mortgages
First-time buyers facing derelict homes crisis, expert says
Labour commits to creating one million more homeowners
Many homeowners remortgage for better lifestyles
Mortgage holders told home information packs will reduce stress
New mortgages help buy two homes out of one
Homebuyers warned about hidden mortgage fees
Standardised mortgage rates at UCB Home Loans
Rural areas may need more homes to help frustrated mortgage holders, analyst hints
Mortgages take home record percentage of pay
Find a remortgage with Pink Home Loans
Mortgage rates increased at UCB Home Loans
Mortgage lender unveils specialist home loans
Homework urged for regeneration mortgage hunters
Scottish house price rises anticipated by 75 per cent of homebuyers, mortgage study shows
House price figures hint at prospects for homeowners looking to find a remortgage
Home insurance advocated for buy-to-let landlords
Homebuyers get help with mortgages
Buy to let mortgages match residential home loan rates
Mortgage lenders' home insurance not necessarily best
Mortgage holders told home information packs will cut costs
London home information pack exemption demand rejected, mortgage holders told
Remember hidden costs as well as mortgages, homeowners told
Homeowners still tentative after interest rate cut
Home information packs will be introduced on time, mortgage holders told
Mortgage holders on alert after home information packs condemned
Large homes dominating mortgage market, reveals research
First-time buyers stay close to home, study suggests
Put summer bonus into mortgage, homeowners advised
Affordable mortgages for rural homes needed, says report
Home owners turn online
Would-be mortgage holders alerted to new home price research
Godiva Mortgages unveils home loan for people looking to find a remortgage
UCB Home Loans expands into poor credit mortgage market
Mortgage and home insurance offers from Direct Line
Home information packs to encourage surveyors, mortgage sector told
Mortgage rates cut on homes and casas at Norwich and Peterborough
Homeowners given mortgages and a glass of wine
Home information packs may benefit first-time buyers, experts suggest
HomeBuy scheme to help first-time buyers, states NHF
Homeowners receive advice on remortgaging
More buy-to-let mortgage deals from UCB Home Loans
UCB Home Loans offering free valuations to mortgage applicants
Mortgages for North Norfolk holiday homes gaining popularity
Home information packs criticised by mortgage holders
Second homes set to soar
Direct Line offers mortgage and home insurance package
Mortgage holders could benefit from home information packs changes, analyst hints
Home information packs may affect people looking to find a remortgage, analyst hints
First-time buyers facing derelict homes crisis, expert says
Praise for mortgage and home insurance package
Preferred poor credit mortgage rate with em-homeloans
Find a remortgage for home improvements, expert advises
Mortgage hunters are short-term homeowners
Pints of milk, personal loans and a new home at your local supermarket
Buy-to-let homeowners get Federal Reserve mortgage
Pink Home Loans offers exclusive mortgage
Home improvements tops for remortgaging, study shows
Homeowners urged to invest bonus into mortgages
Mortgage lender Halifax highlight home improvement
UCB Home Loans launch new three-year flexible tracker mortgage
| mortgages news |
|---|
| Yorkshire Building Society makes mortgage more accessible - Thu, 02 Sep 2010 |
| Lloyds TSB launches new fixed-rate mortgage - Thu, 02 Sep 2010 |
| Skipton launches new mortgage range - Wed, 01 Sep 2010 |
| More News |
Mortgage Rates by Lender 
Worried about Mortgage Repayments?
- Join our petition to Government to bail out burdened individuals, not just banks.
Free Mortgage Quote
Mortgages in Scotland
Equity Release
Switching Mortgages
Home Reversion Plans
Commercial Mortgages Arrears & CCJs?
Remortgages- Sub prime mortgages
- Arrears, CCJs
- Self certification
- Debt consolidation
Protect Your Mortgage