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FAMUVenom
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Posted
Can the Mortgage Crisis Swallow a Town?

By NELSON D. SCHWARTZ
NY Times
September 2, 2007


Charles and Tammi Eggleston, with their daughters, Shelby and Sydney, have been trying to sell their home in Maple Heights, Ohio, since May 2006. Nearby houses sit vacant.

Maple Heights, Ohio - TAMMI and Charles Eggleston never took out a risky mortgage, never borrowed more than they could afford and never missed a monthly payment on their neat, three-bedroom colonial in the Cleveland suburbs. But that hasn’t prevented them from getting caught in the undertow of the subprime mortgage mess now submerging this town.

READ ON

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