Morning Mortgage Meltdown: "Subprime in Sheep's Clothing"

Forget about FICO scores— it's the amount of equity in your home that really counts, as lenders are now considering that number a better way of separating the "defauls" from the "default nots." Says Forbes: "That is a ticking time bomb as U.S. home prices weaken in the wake of the subprime loan crisis because it means that relatively affluent borrowers might not stick around once their equity turns negative, potentially beginning a vicious circle of home abandonments that push down prices and encourage new defaults." [Forbes]