Synthesis

House of Cards by Andrew Laperriere,

In Andrew Laperriere's "House of Cards" article he talks about the low housing market as in where it can be found and he informs the reader about bank loans and the tricks that barrowers tend to use to lure in people. One of the main things he talks about is how people do not have to provide verification of income or even have a down payment to get a housing loan. Laperriere states how many people are taking the "lower rate" loans in hopes to buy a new house or they use it to get rid of their financial problems by refinancing their home. The main problem that Laperriere is talking about is that subprime lenders took to many risks because the American people used and abused their policies, all they needed was established credit if they even asked for that so anyone really got a loan. But then they ran into problems on not being able to pay them off adequately so the lenders lost money and realized, hopefully, what a mistake they made.