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American Nightmare

American Nightmare
Homeowners who can't borrow from banks have long turned to the subprime lending industry for mortgages. Increasingly, that industry has turned on them by charging outrageous fees and usurious interest, and then taking their homes through foreclosure. Richard Lord explores the spread of predatory lending practices. And it tells the stories of borrowers who've been taken, contractors and brokers who've been co-opted, lenders who've cheated-and the world's biggest financial titans, who've cashed in. A battle is taking shape that could determine whether home ownership for working people will be an achievable dream or an American nightmare. Richard Lord is a writer for the "Pittsburgh City Paper whose work on subprime lending has won numerous awards.



American Nightmare: Predatory Lending and the Foreclosure of the American Dream
American Nightmare: Predatory Lending and the Foreclosure of the American Dream
Homeowners who can't borrow from banks have long turned to the subprime lending industry for mortgages. Increasingly, that industry has turned on them by charging outrageous fees and usurious interest, and then taking their homes through foreclosure. Richard Lord explores the spread of predatory lending practices. And it tells the stories of borrowers who've been taken, contractors and brokers who've been co-opted, lenders who've cheated-and the world's biggest financial titans, who've cashed in. A battle is taking shape that could determine whether home ownership for working people will be an achievable dream or an American nightmare. Richard Lord is a writer for the "Pittsburgh City Paper whose work on subprime lending has won numerous awards.



Home Township, Newaygo County, Michigan - Home Township is a township located in Newaygo County, Michigan. As of the 2000 census, the township had a total population of 261.

Forest Home Township, Michigan - Forest Home Township is a township located in Antrim County, Michigan. As of the 2000 census, the township had a total population of 1,858.

Federal Home Loan Mortgage Corporation - The Federal Home Loan Mortgage Corporation ("Freddie Mac") is a stockholder-owned, publicly-traded company chartered by the United States federal government in 1970 to purchase mortgages and related securities, and then issue securities and bonds in financial markets backed by those mortgages in secondary markets. Freddie Mac, like its competitor Fannie Mae is regulated by the Office of Federal Housing Enterprise Oversight (OFHEO) in the United States Department of Housing and Urban Development.

Home Township, Montcalm County, Michigan - Home Township is a township located in Montcalm County, Michigan. As of the 2000 census, the township had a total population of 2,708.



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