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Workouts could soften impact of subprime lending woes

Part 1: The new housing vernacular

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Editor's note: With the collapse of the subprime lending market leading to tightened credit, many are wondering what happens to the millions of loans that are expected to default or more importantly, what happens to the homes and the people who bought them. In this four-part series, Inman News looks at what the lending industry is doing to help people get out of loans or get back on their feet and how some real estate agents are making this their specialty. We'll go in-depth on short sales, REOs and forbearance programs. (Read Part 2, Part 3 and Part 4.) If experts can't seem to agree on the impact of the subprime lending crisis, maybe it's because nobody can predict the future. While many lenders are making headlines as they crash and burn, what may be more important is how the loans they made perform when they're gone -- and whether home buyers will still have access to credit. One of the keys to loan performance is home prices. Former Federal Reserve Chairman Alan Greenspan o...