02 Apr 2007 07:14 am
Find bargains in the mortgage meltdown
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The growing number of homeowners who are falling behind on their mortgage [tag]payments[/tag] could spell opportunity for real estate investors. Most of the problems are among homeowners with “[tag]subprime[/tag]” mortgages — loans extended to borrowers with poor credit, low incomes or both — and particularly among [tag]subprime borrowers[/tag] with adjustable-rate loans, which total roughly 7% of the $10 trillion mortgage market. They are being pummeled by spikes in their mortgage interest rates as the low introductory rates expire. |