Home › News ›

'Cheap Mortgages' Start To Come Due

Posted by: Michael Dudley

6 January 2006 - 6:00am

Homeowners who gambled on risky mortgage products could find themselves paying hundreds of dollars more per month in the coming year as these products are reset to real-world interest rates.

"Starting in 2006 and accelerating into 2007, as much as $2.5 trillion worth of the fancy mortgages called "hybrids" are coming to the end of the free-lunch part of the deal...[and] some would-be investors -- those who took out highly leveraged loans with extremely low payment options -- could soon find themselves owing more on a house than it is worth."

Full Story: Clock is running down on 'cheap' mortgages
Source: Herald-Tribune, January 3, 2006
»
Bookmark and Share
“
In recent years, some public officials and civic leaders have begun to question the existing models for dealing with homelessness, arguing that the persistence of the problem shows that what has been done up until now isn't working.
”