http://www.cbc.ca/news/background/personalfinance/mortgage-meltdown.html
This is good article on the walmartization of the US mortgage industry. I am glad I have a pretty much regular mortage not subprime. People are tricked into a house they cannot afford and then the rate shoots up after the teaser rate expires and you get to foreclose on what you cannot afford. Never underestimae how useful goverment regulation can be. Down here in the land of capitalism you quickly find out that no one is looking out for you.
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