More (Bad) Adjustable Rate News
The Association of Community Organizations for Reform Now is concerned about the impact rising interest rates have on homeowners. From the Houston Chronicle:
ACORN also is worried that many of those with adjustable-rate mortgages, which made up three-quarters of all subprime, or nonconventional, loans in 2005, will find themselves saddled with debt as interest rates rise.
Related posts:
- A Perfect Storm
- Bad News and Deja Vu
- Washington Mutual Offers Refis to Subprime Borrowers
- Good News and Bad News
- The Road to Foreclosure: Non-traditional Mortgages
Tags: Credit and Debt, Economy, Mortgages and Foreclosures
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