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AMER HOME MTG INVT Message Board

  • sonnnnnnnnnnnn sonnnnnnnnnnnn Aug 3, 2007 4:40 PM Flag

    "BK OVER THE NEXT FEW DAYS"

    In a statement Thursday night, American Home confirmed it would cease most operations. It will slash its nationwide employee base to about 750 workers from the 7,409 it reported at the end of last year.

    The collapse is widely expected to lead to a bankruptcy filing over the next few days. It is one of the most dramatic signs that the contraction in subprime lending industry, which make loans to people with weak credit records, has spread.

 
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