From Alternet
George Bush likes to boast about the high rates of homeownership. But today in America, millions of homeowners are at risk of seeing their prized possession taken right out from under them.
Over the last decade, we have been witnessing some of the most brazen acts of mortgage entrapment ever to hit the American housing market.
Subprime lenders have coaxed eager consumers to buy or refinance their homes often with no money down, and at seemingly low interest rates. But now millions of homeowners are paying way more than they can afford.
Their dream of homeownership has quickly turned into a nightmare of foreclosure.
And this nightmare is beginning to rattle the economy as a whole.
All the while, the government has stood idly by.
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