Foreclosure Scares

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Defaults on subprime mortgages are seen as the source for the downturn in the economy across the globe. These loans have low introductory interest rates that reset to higher rates after a few years. And in South Los Angeles, most home buyers could only qualify for subprime mortgages. Many residents who bought homes in the last few years are now afraid they may lose them, and community leaders want help, and answers.