Friday, May 26, 2006

I am sad. I'm angry. I'm confused.

NBC: As rates rise, home foreclosures surge

More worrying news from the US...

Posted by harold @ 04:26 PM (3008 views)
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4 Comments

1. Markd said...

Ah, but help is at hand... note that tempting offer of a $40,000 loan for only $277 per month. Bring it on....as a certain President might say.

Friday, May 26, 2006 04:57PM Report Comment
 

2. Seb said...

Where percentage of mortgages are variable rate mortgages in the UK?

The reason homeowners have been buying properties that are probably beyond their means, is that they haven't been looking at what the house costs,

heh, it's all about those monthly payemnts huh. We have heard the bulls spout this loads of times, who cares about the end price and the multiples as long as the monthly payment is just in grasp...affordable I think is the word they use, how short sighted.

Friday, May 26, 2006 08:15PM Report Comment
 

3. Sirgoogle said...

The reason homeowners have been buying properties that are probably beyond their means, is that they haven't been looking at what the house costs, says Rick Sharga with RealtyTrac, which maintains a database of foreclosed properties. They've been looking at what the monthly payment was.

Idiots - of course Brits would never be so stupid would they ......

Friday, May 26, 2006 08:16PM Report Comment
 

4. Surfgatinho said...

I expect going bankrupt still has some stigma attached in the US. Over here I think it will become the season's must have!

Saturday, May 27, 2006 02:38PM Report Comment
 

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