Mortgage Meltdown: Option ARM Loans Will Destroy Your Credit

In this ABC 2 News Investigation, Freedmont Mortgage's CEO Carl Delmont explains the devastating effect Option ARM loans will have on your credit score.

The Mortgage Meltdown

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 U.S. recession.