downbeat about the lending industry as well as the real estate market it depends on.
Bankers expect foreclosures to rise throughout next year leveling off. The primary given is that job losses have replaced adjustable subprime loans as the main cause of defaults. Although my own economists sources are also expecting another couple large adjustment rate mortgage to reset which could trigger another wave of foreclosures even amongst those fully employed.
Click here to Read the LA Times full story on this subject
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Mark Martinho
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