ElisaS

Peter Schiff on the Housing Market and the Rescue Plan

I am a mortgage broker in Australia currently being hit by the shock waves caused by the subprime market in the US. This may sound like a very basic question but aren't there any safeguards in place to monitor lending practices?

Here we have an independent body and set of guidelines that helps to protect both borrowers and lenders, there are still occassions where people get themselves into loans they cannot afford but generally it is because they have a change in circumstances or the interest rates have increased.