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
Showing posts with label Subprime bailout plan. Show all posts
Showing posts with label Subprime bailout plan. Show all posts
Wednesday, December 12, 2007
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