How many times have you heard of those stories of woe and bankruptcy caused by the subprime lending and borrowing crisis, currently in the forefront of real estate market news? For me, too many. Here’s a typical account that I found in our local newspaper recently.

Well, there’s more where that came from: you don’t have to look too far to find more tales of struggle that echo the same theme over and over.

So perturbed was I about what was going on that I even wrote about it not too long ago.

This is the type of stuff that could have repercussions across markets far and wide, and will be touching lives far and wide for years to come.

Ultimately, it all boils down to some typical scenarios that I’ve decided to illustrate this way and kept faithful to the actual stories of people caught up in this subprime lending mess (who are usually immigrants or lower income families) — there was nothing here that I made up.

Click here or on the image to enlarge it:

 

American Nightmare: Subprime Lending Problems

 

Don’t let your future end in an American Nightmare: stay away from those lousy loans! Sad to say, it’s already way too late for too many.