Mortgage Market Jitters (No. 501)
First Aired Thursday, December 13, 2007
Risky subprime loans and high interest rate mortgages have taken a devastating toll on homeowners and lending institutions across the country. So far, Montana has fared better than other states, but financial fallout connected to predatory lending schemes is apparent. A Missoula resident saw her loan rate jump from 7.24% to an unaffordable 11.36% per cent. Montana Focus visits with housing and loan experts who are trying to stay ahead of the national slump by advising potential home buyers that if their mortgage deal looks too good to be true, it probably is. Also, Lee Newspapers Capitol Bureau Chief Chuck Johnson talks about the recent proposal to move the legislative sessions from odd to even numbered years. And, Montana is taking part in an early avian flu detection project.