Wednesday, May 2, 2012

The subprime crisis

In the U.S. and in many other western economies, there was a custom that showed to be detrimental. A growing number of people were purchasing properties with mortgage loans higher than 95% of their value. In practice in order to buy a $ 200.000 property you only needed to give a down payment of $10.000.

These people could not obviously afford a house but they bought it with a loan.

Eventually the interest rate grew and so did the mortgage instalments. So came the crisis, also known as the subprime crisis, that spread in every economy. From this crisis we have to learn that the debt can be good but you can’t use it without common sense as they unfortunately did.

Today we are paying the consequences of this abuse.

However while you are reading this article, you too can take advantage of the crisis. You too can become rich and you can do it by playing by their own rules.

And this blog explains you why is fair doing it and also how to do it.

Luigi Foscale

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