The loan at the heart of a new foreclosure crisis
11 September - 29 mins
Podcast Series
Planet Money
There is a new type of loan that is sweeping through the country right now. It’s advertised as a super quick and super easy way to get a mortgage to buy a home. In recent years, Wall Street has been funneling billions of dollars into these loans.
But these loans are also raising questions. Are they a financial innovation that’s helping the housing market? Or ... a sign that Wall Street might be forgetting the mistakes that led to the Global Financial Crisis?
On today’s show, we head to Baltimore, where abandoned rowhomes have become a familiar sight. Reporters Hallie Miller, Jack Bologna and Sahana Jayaraman from The Baltimore Banner have been following this new loan as it’s been bringin...
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