This from: Real Estate News
Prime loans going bust, too
Alarming new data show more than a third of new foreclosures targeted fixed-rate mortgages held by borrowers with high credit scores.
BY KEVIN G. HALL
MCCLATCHY NEWS SERVICE
WASHINGTON -- Aftershocks from the nation's financial crisis continue rumbling through the housing sector as fixed-rate mortgages held by the safest borrowers accounted for nearly 37 percent of new foreclosures during the first three months of this year, the Mortgage Bankers Association reported Wednesday.
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