The housing recession the worst in US history and worsening every day will eventually see house prices fall by more than 20 , with millions of Americans losing their homes.

The Right Weights for Mortgage Risks

Occupy the Mortgage Lenders

After the subprime crisis erupted, mortgage and consumer debt was paid down by households either with their savings or by default.

So far, the sub prime crisis has had a limited direct impact on Latin America s mortgage markets.

Unlike virtually every other country, US residential mortgages are effectively no recourse loans.

Losses are spreading from sub prime to near prime and prime mortgages, commercial mortgages, and unsecured consumer credit (credit cards, auto loans, student loans).

Mortgage debts, too, must be written down.

So they've created deductions, subsidies and insurances.

a rapid reduction of insolvent households debt burden, preceded by a temporary freeze on all foreclosures

The sub prime crisis has exposed serious problems that we must address.

As a result, mortgage brokers maximize their income by generating larger volumes of mortgages, as do the banks that package these loans into mortgage backed securities (MBS s).

Mortgages became more widely available.

Mortgage brokers were happy to get in on the act.

It was called securitized mortgages.

Credit card, electronic wallets, mortgage back security stock options.

Indeed, the foreclosure rate is increasing.

The problem was not just sub prime mortgages.

In the US, reviving the credit markets requires stopping the mortgage defaults driven by negative equity.

Moreover, the US housing market appears to be stabilizing....Overall, the US mortgage market has remained resilient, although the sub prime segment has deteriorated a bit more rapidly than had been expected.

But mortgage markets remain underdeveloped in most emerging economies.

What is needed is a quick write down of the value of the mortgages.

In the fourth act, the real estate bubble will burst.

If you have a mortgage, refinance with another bank.

The largest number of defaults on sub prime mortgages will occur this spring.

As Bernanke pointed out, 45 of US farms were behind on mortgage payments in 1933, and in 1934, default rates on home mortgages exceeded 38 in half of US cities.

By the end of this year about 8.4 million US individuals with mortgages will be unemployed and unable to service their mortgages.

In Mexico, all mortgages carry fixed interest rates, unlike the infamous exploding ARMs that left US homeowners ruing their choice of adjustable rate mortgages when interest rates rose. Mexican mortgages are indexed to inflation, but the state mortgage agency links that index to the minimum wage and makes up the difference if mortgage interest adjustments for inflation outpace wage growth.

Its members could not agree even on how to define subprime mortgages and calculate how many such mortgages there were in the United States at the time of the crisis.

The state is an epicenter of the housing bust and the foreclosure crisis.

Around sixty sub prime lenders have already gone bankrupt.

Some limited previous experience with mortgage modifications is not encouraging.

There was a huge moral hazard courtesy of the government in the mortgage market.

The growing gap between mortgage debts and house prices will continue to increase the rate of defaults.

So freed! So freed!

But it is the economic slowdown that renders all developed countries less resistant to the financial shocks resulting from the sub prime problem and from the mixed loan packages that are then used to dilute the risks attached to sub prime debt.

Everybody now knows about America s dodgy sub prime mortgages (the term says it all).

When home prices were soaring, the geniuses behind mortgage finance seemed infallible.

The greatest crisis facing many Americans is their increasing inability to meet their monthly mortgage payments.

Wall Street has polluted the economy with toxic mortgages.

Sub prime mortgages made the American dream come true.

One place to start is the tax deduction for interest payments on home mortgages.

Housing prices began to rise by 10 a year.

like subprime mortgages or Bernie Madoff's pyramid scheme, the devil is always in the details.

Thus, although delinquency rates have risen slightly in Mexico since the mortgage market was created in 2003, only about 5 of mortgages are between 31 and 60 days late. Only 2 are between 61 and 90 days late.