Bobby Bucks
Elite Member
- Joined
- Jan 27, 2002
- Professional Status
- Real Estate Agent or Broker
- State
- North Dakota
Report Reveals 2.2 Million Borrowers Face Foreclosure on Subprime Home Loans
The report discusses a number of factors that drive subprime foreclosures -- in the majority of cases, borrowers receive high-risk loan features, packed into an adjustable rate mortgage with a low start rate, that is approved without considering whether the homeowner can afford to pay the loan after the rate rises.http://biz.yahoo.com/prnews/061219/dctu021.html?.v=78
The report discusses a number of factors that drive subprime foreclosures -- in the majority of cases, borrowers receive high-risk loan features, packed into an adjustable rate mortgage with a low start rate, that is approved without considering whether the homeowner can afford to pay the loan after the rate rises.http://biz.yahoo.com/prnews/061219/dctu021.html?.v=78