This just in.
[tag-tec]American Home Mortgage[/tag-tec] Investment Company is in trouble. Their stocks are down 90 percent and they are running out of cash.
This could leave a lot of [tag-cat]homeowners[/tag-cat] who have loans through them in serious difficulty.
American Home Mortgage specialized in loans for borrowers who didn’t quite have all the qualifications for a Prime Loan.
The company issued 167 billion of loans in the first quarter of 2007, and was rated as the 20th largest Alt-A lender in 2006.