tag:blogger.com,1999:blog-7518052123607266716.post1204904371146518072..comments2023-11-03T02:32:12.233-07:00Comments on The Bayesian Heresy: Origins of the Subprime Mortgage Turmoil, againMarshall Jevonshttp://www.blogger.com/profile/18150733296966489030noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7518052123607266716.post-69391226055935217472008-03-25T02:13:00.000-07:002008-03-25T02:13:00.000-07:00The problem unfortunately is continuing growing as...The problem unfortunately is continuing growing as subprime mortgages are boosting the housing sector, where predatory mortgage companies target consumers with bad credit ratings and low incomes. These consumers are often ineligible for the much lower prime market rates. The lenders prey upon the dream of homeownership among the working poor, offering to accept “high risk” borrowers. In turn, interest rates are inflated very high, so exorbitant that many borrowers cannot keep up with payments, penalties and other fine-print fees, particularly in the event of job loss, injury or illness in the family. A very high percentage of sub-prime mortgage and <A HREF="http://www.badcredit-mortgages.org.uk/" REL="nofollow">bad credit mortgages</A> agreements end in desperate refinancing attempts, foreclosures and personal bankruptcy filings.Kellyhttps://www.blogger.com/profile/07061784344080129799noreply@blogger.com