How Sophisticated People With Good Incomes Became Trapped in the Mortgage Meltdown.

Posted By Cliff Tuttle | May 15, 2009

Posted by Cliff Tuttle

This article in the New York Times is worth reading if you have wondered how people with the knowledge, credit and funds to avoid the subprime mortgages became ensnared by them.

Unfortunately, the author, Edmund L. Andrews, who is a NYT financial writer, tells us how he got into the mess, but doesn’t reveal a strategy for getting out. Perhaps his book, “Busted, Life Inside the Great Mortgage Meltdown”, to be published next month by W. W. Norton, will provide suggestions to others who are coping with the same problem.

CLT

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CLIFF TUTTLE has been a Pennsylvania lawyer for over 45 years and (inter alia) is a real estate litigator and legal writer. The posts in this blog are intended to provide general information about legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus. However, this information does not constitute legal advice and there is no lawyer-client relationship created when you read this blog. You are encouraged to leave comments but be aware that posted comments can be read by others. If you wish to contact me in privacy, please use the Contact Form located immediately below this message. I will reply promptly and in strict confidence.

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