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The American Conservative

  • by Melvin Rhodes
Millions of Americans are heavily burdened with first and, in many cases, second mortgages. People reached for "the American dream" of owning their home-but often a home somewhat beyond the reach of their incomes. Additionally, they pulled needed cash out of home equity through refinancing. Who controls these loans? What do creditors receive in return for their money? Are we about to experience a...