Friday, March 30, 2007
During the housing boom, people with checkered credit were given what's called subprime loans. People paid lower, fixed rates initially, then the rates ballooned to surpass what people could afford to pay. The result is a surge in mortgage defaults and foreclosures. We'll talk with Dean Calbreath who covers business and the economy for the San Diego Union-Tribune about the local impact of the subprime mortgage fallout.
Dean Calbreath , reporter and columnist for the San Diego Union-Tribune.