The Financial Crisis Takes a Toll on the Turnpike Authority
The fallout from the subprime mortgage collapse has hit Boston hard. Entire neighborhoods have been abandoned by homeowners who fell behind on their payments, and the economic impact of questionable loans is spreading beyond the real estate market. Now the Turnpike Authority is in trouble with a variable-rate loan, and it can’t walk away from the 138-mile roadway it’s responsible for.
The fallout from the subprime mortgage collapse has hit Boston hard. Entire neighborhoods have been abandoned by homeowners who fell behind on their payments, and the economic impact of questionable loans is spreading beyond the real estate market. Now the Turnpike Authority is in trouble with a variable-rate loan, and it can’t walk away from the 138-mile roadway it’s responsible for.
