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Jul 28, 2008

OC Register's update on subprime block


In September, John Gittelsohn and Ronald Campbell, reporters at The Orange County Register, penned a story that focused on one street in their coverage area where lenders were prompting Hispanic buyers to $19 million in loans.
The reporters determined the block on Camile Street in Santa Ana, Calif. had one of the highest rates of subprime mortgages in the nation.
Our Dick Weiss highlighted the story ""Street of Broken Dreams" in his blog "Dicks Picks" saying the piece, "crunches lots of numbers; it’s not a sob story about the homeowners some of whom maybe should have known better before taking out their loans. But the story goes a long way toward explaining how so many Americans – homeowners and lenders got into so much trouble."
Now almost a year later, the paper has published an update on their findings, giving readers another excellent look at the faces behind the subprime fallout.
To check out the update click here.

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