Subprime ARMs Defaulting, Despite Loan Modifications : Housing Wire
by Tom on July 17, 2008
in Education, Market Musings
a whopping 42 percent of subprime adjustable-rate mortgages modified during the first half of 2007 had become 90 or more days delinquent by the end of March 2008.
Subprime ARMs Defaulting, Despite Loan Modifications : Housing Wire.
I guess all I can really say about this is pretty simple:
There are people who, because of subprime mortgage lending, got into homes that they “owned” and they really shouldn’t have been buying a house.
