Coming to the rescue- subprime fiasco !
Prime adjustable-rate loans -- not covered in the industry's rescue plan -- accounted for 18.7% of mortgages starting foreclosure, the second-highest proportion behind subprime adjustable-rate loans. The overall delinquency rate is the highest since 1986, with some 2.64 million borrowers nationwide behind on payments for their first-lien mortgages for residences.
Makes you think, may be a longer and deeper recovery period than people think.
www.PremierAZhomes.com
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