Sep 22
More confirmation with regards to what we’ve already stated. See previous entry and data here.
Another Wave of Foreclosures Looms
Washington Post (09/09/09) P. A13; ElBoghdady, Dina
A new report from Fitch Ratings estimates that fatter payments on resetting option adjustable-rate mortgages will lead to another round of foreclosures for the housing market. About $134 billion in option ARMs will reset by 2011, and monthly payments are expected to surge 63 percent on average, or by $1,053 a month, according to Fitch, which also notes that many borrowers are struggling. As of April, more than 35 percent of option ARMs were already two months or more late even though they had not reset.
(More)
September 22nd, 2009 at 4:10 pm
This sounds a little like a scare tactic, If you look around there are Hundreds of Homes still being built . I guess those Homes are already bought . So If you are looking for a Foreclosures. We will be glad to help you out.
September 22nd, 2009 at 7:42 pm
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September 23rd, 2009 at 12:23 pm
[...] who cannot sleep tight because they think of how to save the house and to pay off all the bills. Mortgage Industry News – More Foreclosures Looming – titanlenderscorp.com 09/22/2009 More confirmation with regards to what we’ve already [...]