Question by David666: i don't understand about mortgage crisis going on in U.S?
what i understood was banks gave mortgage to people who had a bad credit. This consequently raised the demand for housing and then bumped up house price. To decrease house price mortgage rate were set high. And then......
Is it right.
If not can anyone give me a brief explanation of this crisis?
Thankyou
Best answer:
Answer by kemperkbanks lent to different types of people, some with down payments
and others
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