With the subprime debacle in mortgage lending in 2007 both business as well as consumers began to take note that something had to change.
The government got involved and pushed for help to be extended to those who may have already found themselves facing the potential of foreclosure.
Subprime hit at the heart of home and auto lending. These loans were generally infused with creative payment, interest amounts and terms. For many this was the deal that sounded too good to be true, but also seemed the only way to either get a car or buy a home.
At the end of 2007 more and more homes were for sale in a housing market that had fewer buyers with a significant amount of sellers.
For many of these individuals they came to the place where they recognized they could no longer afford the payments, but were also reluctant to leave their homes.
It was also during this time that some businesses faced a downturn and had to downsize their labor force. It all happened in a time when no one wanted to be without a home, a car or a job. In some cases men and women are overlooked for a new job because they either specialize in a certain field or are...
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