Articles by Carmen Multhauf

Creative loan options were created to enable first-time and low-income borrowers, who have limited wealth, to enter the market. Adjustable rate mortgages were not new, having been authorized as long ago as 1982 by the Garn-St.Germain Depository Institutions Act, which was intended to revitalize the housing industry and deregulate Savings and Loans.

Exxpect to see some similarities between the present day American experience and 80 years ago, though we acknowledge that there are other factors that influence economic consequences.