Bad News On New Loans: Defaults are Up

Bad News On New Loans: Defaults are Up

October 16, 2007

From today's New York Times:

Borrowers who took out loans in the first six months of 2007 are falling behind on payments faster than homeowners who took out loans last year, according to a report by Friedman, Billings, Ramsey, an investment bank based in Arlington, Va. The data suggested that more Americans could lose their homes and that the housing market’s troubles might persist longer than many analysts have been predicting.

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