American Home Mortgage Closes Its Doors

ARM specialist's efforts can't hold off fallout from worsening crisis

By Heather McPherson, Newser User

Posted Aug 3, 2007 9:25 AM CDT

(Newser) – The battered mortgage-lending industry will suffer another blow today as American Home Mortgage shuts down, making it the latest company to go under as home loans go bad across the country. AHM's troubles were common knowledge, the Times reports, but the speed of its downfall... Read full story »

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American Home Mortgage Closes Its Doors

ARM specialist's efforts can't hold off fallout from worsening crisis

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housing market • subprime mortgages • mortgage • American Home Mortgage • home loans • borrowers

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More Newser Stories

New Flood of Foreclosures Looms

Adjustable borrowers face up to 35% spikes in mortgage payments

Subprime Loans Went to Rich as Well as Poor

High-rate mortgages accounted for 29% of all home loans last year

Home Foreclosures Hit Record

August numbers double, with no end in sight

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Figures jump 93% over 2006; 1 in every 693 households in default

Mortgage Crisis Hits Affluent Buyers, Too

Even borrowers with excellent credit are now facing higher rates

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