Describes trends and backs it up with numbers. Covers mostly lender practices, but also some homeowner fraud. Surprisingly, does not discuss the national homeownership rate.

The author did cover this story well. I didn't understand these loans when speaking with a lender, but now I feel I now understand these loans a little bit more. The only thing I haven't heard with regards to this story is how it resembles the international monetary fund practice of lending money to countries that they know they will not be able to pay off and then swooping in and taking all assets.

I don't know. I see a story not getting told about speculators driving up and manipulating Real Estate values and then Lenders manipulating unqualified borrorwers into loans that they couldn't pay. One could ask, "What's up with that?"

Another prime example at how our society of debt is slowly draining away the middle class. People are constantly being taken advantage of by complex legal documents that bind them to agreements that they are not well-informed to comprehend.