Foreclosure Tsunami??
Charles DuBow at BusinessWeek shines a light on the potential upcoming foreclosure tsunami.
The Nattering One concurs that the home ownership story may not have a happy ending for some. Key quotes follow...
Between $400 billion and $500 billion in ARMs are due to be reset by the end of 2006.
The following year will be even more dramatic, when more than $1.5 trillion will be reset.
Many homeowners will see their monthly mortgage payments shoot up by as much as 20%.
The Nattering One concurs that the home ownership story may not have a happy ending for some. Key quotes follow...
Between $400 billion and $500 billion in ARMs are due to be reset by the end of 2006.
The following year will be even more dramatic, when more than $1.5 trillion will be reset.
Many homeowners will see their monthly mortgage payments shoot up by as much as 20%.
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