Scott Pelley reports on the mortgage crisis that’s far from over, with a second wave of expected defaults on the way that could deepen the bottom of the US recession.

In 2006 Peter Schiff tells over 1000 mortgage brokers they are about to be out of jobs. Watch how he completely nails the coming real estate/mortgage debacle before anyone else even realized it was coming.

PlusHundreds Swept Up in Mortgage Fraud ArrestHundreds Swept Up in Mortgage Fraud ArrestThe Associated PressThe US Justice Department says more than 400 real estate brokers have been arrested since March, including dozens over the last two days, in a crackdown on mortgage fraud that has contributed to America’s housing crisis. (June 19)This video contains ONLY natural sound. No script is available.

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In a segment on CBS that aired yesterday, 60 Minutes correspondent Scott Pelley talks to investment and credit experts about the new types of mortgages that will create a second wave of foreclosures. The country has already suffered the subprime mortgage crisis, and the experts say the next wave of risky mortgages to default are the Alt-A and option ARM mortgages, which were also bundled into Wall Street securities and sold to investors. For more information plesae click the link: www …

www.pbs.org BILL MOYERS JOURNAL travels to ground zero of the mortgage meltdown — Cleveland, Ohio. Correspondent Rick Karr takes viewers to Slavic Village, one of the hardest hit neighborhoods in the nation when it comes to the spate of foreclosures caused by the subprime mortgage crisis.. Aired Friday, July 18, at 9p.m. on PBS (check local listings). For more: www.pbs.org