Thursday, February 09, 2012

 
 
 

 
 
 
 
 
Next mortgage bomb about to explode; spark huge crisis
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Monday, March 30, 2009
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From Clusterstock:

Now that all those sub-prime loans have defaulted and folks who couldn't afford their houses have been evicted, the foreclosure crisis is over, right?

Wrong.

Why?

Because subprime loans aren't the only loans that began with a couple of years of fantastic teaser rates that made houses seem affordable. And over the next few years, all of those other loans will reset.

Now that interest rates are low, the folks who still have jobs and equity in their houses will refinance. Others, however, will be stuck paying higher rates--or they'll walk away from their houses.

Read full article (with great charts)...

Topics: Mortgages | Boondoggle
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