Subprime Borrowers
From Ben Jones - The Housing Bubble Blog And this is during the good times
And how about the rapidly growing subprime market? 11 percent of subprime borrowers are behind on payments. "Subprime borrowers were 7 1/2 times more likely to be 90 days delinquent, and 8 times more likely to be in foreclosure proceedings. (In) West Virginia..more than 21 percent of (subprime) homeowners were behind." But the worst group is FHA. "Nearly 13.2 percent of all FHA borrowers were delinquent at the end of 2004." When its all said and done, this is going to be a nightmare.
And how about the rapidly growing subprime market? 11 percent of subprime borrowers are behind on payments. "Subprime borrowers were 7 1/2 times more likely to be 90 days delinquent, and 8 times more likely to be in foreclosure proceedings. (In) West Virginia..more than 21 percent of (subprime) homeowners were behind." But the worst group is FHA. "Nearly 13.2 percent of all FHA borrowers were delinquent at the end of 2004." When its all said and done, this is going to be a nightmare.
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