The Causes and Effects of the Current Mortgage Crisis

The mortgage crisis is an ongoing economic and financial crisis which has been triggered due to an increase in delinquencies and foreclosures. It is more likely to have a strong affect on people who have bought a home during the early years of this century. Many home loans were given to people because of an occurrence of a housing bubble along the two coats of the United States from the years 2000-2005, as a result of which loans were granted at sub-prime rates to many people.