My Own Private Mortgage Crisis

Andrews is a longtime economics reporter for The New York Times. He’s covered interest rates and housing markets and mortgage lending; the Fed and Wall Street, busts and bubbles. So he should have known.

But life is complicated. Dreams are not always sensible. And even Ed Andrews got in over his head in the housing bubble. A house he couldn’t afford. Mortgage payments that got away from him. Too much alimony. Too little income.

Now he is one of the ocean of Americans waiting for foreclosure. This hour, On Point: The story of Ed Andrews, busted.

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Ed Andrews joins us from New York.  A veteran economics reporter for The New York Times, he tells his personal subprime mortgage story in his new book "Busted: Life Inside the Great Mortgage Meltdown."

Read an excerpt from the book that appeared in The New York Times Magazine this past Sunday.