The Home Equity Theft Reporter: Senior Citizens, Retirement Funds Victimized By Subprime Lending Mess

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In Suffolk County, New York, Newsday reports: A Suffolk judge’s decision to wipe out the mortgage debt of a foreclosed-upon East Patchogue couple may send a message to predatory subprime lenders that unless they work to save their customers’ homes, they stand to lose everything, some real estate attorneys said.

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Capitol Briefing outlined last week all the reasons why House conservatives balked at the initial proposal, and the basic point still stands: A massive expenditure of taxpayer funds and intervention.

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Trying out securities-based lending can put your retirement at risk.. a second mortgage on a home you own to cash in on your equity. Then, those funds can be used to buy real estate, cars.

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The Home Equity Theft Reporter: Senior Citizens, Retirement Funds Victimized By Subprime Lending Mess Subprime Loan: A subprime loan is a type of loan offered at a rate above prime to individuals who do not qualify for prime rate loans. Quite often, subprime borrowers are turned away from.