8 million are expected to foreclose over the next five years
Scott Pelley reports on the mortgage crisis that’s far from over, with a second wave of expected defaults on the way that could deepen the bottom of the U.S. recession. Whitney Tilson explains that sub prime mortgages are just the start of our foreclosure woes and we’re still only halfway through the bursting of the mortgage bubble. We still need to be concerned about the All-Day and Option Arm mortgages.
