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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (90436)	9/25/2007 10:04:52 AM
From: Les H	Respond to of 306849

Borrowers told to lie about wages A BBC investigation has found evidence of serious mis-selling in Britain's sub-prime mortgage market. Industry insiders have described how people have been advised to lie about their incomes to take out loans far bigger than they can afford. Half of all sub-prime mortgages in the UK are self-certification mortgages, where borrowers state their income and lenders do not necessarily check. The Financial Services Authority said it would "crack down on this abuse". news.bbc.co.uk Banks turn away credit card business - half of applicants rejected dailymail.co.uk