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Understanding the Subprime Mortgage Crisis

By , About.com Guide

The subprime mortgage crisis has put the U.S. economy into the worst recession since 1982. This primer tracks how the subprime crisis unfolded, affecting first the real estate market and then the economy overall. It gives you definitions of important terms. It also explains how interest rates and real estate play an integral role in the U.S. economy. Finally, it gives resources for those who are suffering from the subprime mortgage crisis directly.

How Does Real Estate Affect the U.S. Economy?

Real estate is an integral part of the economy. Although many economists said that the slowdown in real estate would be contained, that was just wishful thinking.

Help for Subprime Mortgage Holders

Freddie Mac and Fannie Mae developed resources for those crushed by subprime mortgage debts. Find out how to get help if you are a subprime mortgage holder.

HOPE NOW

HOPE NOW is a cooperative effort between the government and 90% of subprime mortgage lenders to help homeowners who may not be able to make higher mortgage payments after their interest rate resets.

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