TheRealDeal – Second wave of mortgage crisis to come
Sunday, December 6th, 2009
In a segment on CBS that aired yesterday, 60 Minutes correspondent Scott Pelley talks to investment and credit experts about the new types of mortgages that will create a second wave of foreclosures. The country has already suffered the subprime mortgage crisis, and the experts say the next wave of risky mortgages to default are the Alt-A and option ARM mortgages, which were also bundled into Wall Street securities and sold to investors.
For more information plesae click the link:
http://www.cbsnews.com/stories/2008/12/12/60minutes/main4666112.shtml?tag=FeatureBoxTabsContent;FeatureBoxTabs2
Duration : 0:4:40
Scott Pelley reports on the mortgage crisis that’s far from over, with a second wave of expected defaults on the way that could deepen the bottom of the U.S. recession.
