Common Courage Press Announces New Book on Predatory Lending

Reporters and prosecutors have made careers out of busting the home improvement contractors and mortgage brokers that trap unwitting consumers into high-interest, high-fee "predatory' loans. American Nightmare starts there, and then shows how billions of dollars in excessive charges and corrupt practices enrich the biggest financial conglomerates in the world, and how they, in turn, pay off the politicians that turn a blind eye. In fact, rather than pursuing real reform, the current administration's response to the cries of borrowers has been to exempt most lenders from state and local lending safeguards.
American Nightmare documents the resulting record-high foreclosures and the damage to communities throughout the nation. Unfortunately, the nightmare isn't over. Interest rates on millions of loans made during the refinance boom are about to go through the roof, pushing many homeowners out the door.
Richard Lord is an award-winning investigative reporter for the Pittsburgh City Paper who has also written for Reuters, AlterNet, Planning, Stars & Stripes and many other publications.
www.commoncouragepress.com for more info