Friday, May 04, 2007
Now, we have a much worse situation potentially here in the UK
CNN Money: Foreclosures surge on mortgage woes
Can a bank yank a fix rate mortgage from a borrower?
NEW YORK -- Foreclosure filings surged during the first quarter of 2007, as home price increases slowed or even reversed and borrowers fell behind on payments once their adjustable rates began resetting at much higher levels.
The number of filings climbed 27 percent in the first quarter compared with the fourth quarter of 2006 and 35 percent from a year earlier, according to a report released Wednesday by RealtyTrac, an online marketer of foreclosure properties.
Posted by lvmreader @ 12:18 AM (137 views) Add Comment
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