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| Subprime Meltdown: From U.S. Liquidity Crisis to Global Recession | 
 enlarge | Author: Charles Brownell
Publisher: CreateSpace
Category: Book
List Price: $14.95
Buy New: $11.57
You Save: $3.38 (23%)
Buy New/Used from $9.98
Avg. Customer Rating:  (3 reviews)
Sales Rank: 158297
Languages: English (Original Language), English (Unknown), English (Published)
Media: Paperback
Number Of Items: 1
Pages: 116
Shipping Weight (lbs): 0.4
Dimensions (in): 8.3 x 5.4 x 0.4
ISBN: 1438236611
EAN: 9781438236612
ASIN: 1438236611
Publication Date: July 16, 2008
Release Date: July 16, 2008
Availability: Usually ships in 1-2 business days
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| Editorial Reviews:
Product Description
Why are there so many foreclosures? Why would banks, the pillars of fiscal responsibility and risk aversion, lend money to people who couldn't afford to repay their loans? How did Wall Street manage to hide the risk and sell the subprime mortgages? How did the subprime mortgage business unravel and evolve into a worldwide liquidity crisis? What are the frauds and scams, how do they work and what should you be aware of? What is the forecast for the future and what conclusions can be drawn? You will find the answers to all of these questions and more in this book. It is an easy-to-understand and easy-to-read collection of analyses, stories and experiences about the real estate business, the mortgage business and the subprime market in particular.
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| Customer Reviews:
 Subprime loans December 16, 2008
This was a good book. I do recommend it to anyone that is interested in the subprime crisis.
 Subprime Meltdown August 14, 2008
2 out of 2 found this review helpful
With the current subprime meltdown taking place within the US Economy, many people are losing their homes and millions more are worried about how they are going to make their mortgage payments. In his book, Subprime Meltdown: From U.S. Crisis to Global Recession, author and real estate expert Charles Brownell addresses how the subprime mortgage was created, how it works, and what factors led to the current subprime mortgage crisis.
In 114 pages, Brownell succeeds in providing a comprehensive understanding of how a number of different sectors contributed to this crisis which has resulted in far more world wide implications. Brownell explains how the Federal Government and Congress instigated the current crisis between 1975 and 1980 when they passed legislation that forced financial institutions into the subprime market stating that it was discriminatory not to give loans to low and moderate income people. He details how the financial institutions could not afford to give loans that were considered high risk so they came up with clever ways to profit. A number of the ways that he describes were very shady and ended up costing mortgage holders much more than they thought. As well, he shows how practices of financial institutions resulted in what is known as predatory lending.
People lacking knowledge on subprime mortgages will find the book very easy to understand. Brownell provides clarity on a very confusing subject. Not only does he explain how mortgage lenders work with financial lenders to ensure the best profit for them, he also provides an account of all those hidden fees that people often don't know about. As well, he offers solutions on how to reduce the chance of another subprime mortgage crisis from recurring. For those seeking advice on how to make sure they choose a mortgage that they can afford, helpful tips on managing your money and what to look for when choosing a mortgage are provided.
The book is a very educational read for those trying to make sense of the subprime mortgage market. Although it is about a serious situation, it is very optimistic with an important message of the need for consumer education.
Tracy Roberts, Write Field Services
A MUST Read for Existing and Future Homeowners July 31, 2008
The book is written clearly and to the point. Explaining the complex world of subprime loans within our global economy would prove daunting for even America's most accomplished economics scholars. Charles Brownell hits a home run by giving as a view into the seedy world of subprime mortgages - from the initial loan to the creative packaging of CDO's on Wall Street..
A great read for existing homeowners or individuals planning to own a home in the future. The book provides a crash course education on how our loan system "really" works and how buyers can avoid fatal pitfalls along the way. Includes several helpful tips on how to avoid hidden and unnecessary finance expenses.
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