19 Oct 2007 06:59 am
Subprime Crisis Intensifies With Mortgage Resets
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| Mortgage and finance experts are predicting that about $50 billion in [tag]adjustable rate mortgages[/tag] will soon reset. The effect for homeowners is that interest rates on their adjustable rate mortgages will increase and unfortunately many of these consumers are [tag]borderline borrowers[/tag]. Despite efforts to raise awareness, it many aren’t fully prepared for what’s to come. Most borrowers are likely to just scramble to pay the higher expenses, some of which will jump by 50 percent and come as a big surprise. Other loan holders will find no choice but to default and some will be driven into bankruptcy. |  |