WASHINGTON: Hispanic immigrants across the US are being hit hard by the subprime mortgage crisis, with many risking their life savings in a failed bet on the American dream of owning their own homes.

Hispanics hold up to 40% of mortgages in the troubled subprime loan market, where higher interest rates are charged to buyers with a damaged credit history or little borrowing experience.

Often new to the country and with limited English, many say they were misled by mortgage brokers and never expected their payments to be so high.

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