www.americanprogress.org With each passing release of housing-related data, the picture becomes bleaker for the estimated 1.8 million homeowners with subprime mortgages whose interest rates have reset this year or are due to reset before the end of next year. Many of these borrowers and their families hold the 22 percent of adjustable rate subprime loans currently delinquent or the 3.84 percent of subprime loans that entered foreclosure in the second quarter of this year. For those still current on their loans, they can look forward to increases in monthly payments averaging 30 percent to 50 percent when their rates reset. There have been a number of proposals offered to help these and other troubled borrowers, but the range of solutions suggested to date still leaves a significant number of families without any solution to their problems. For more of cap’s work on the current housing crisis please visit THE CENTER FOR AMERICAN PROGRESS www.AMERICANPROGRESS.org
Tags: bank, co, Credit, Debt, estate, Finance, foreclosure, house, Market, money, Mortgage, progressive, real, realtor, subprime
March 12th, 2010 at 1:59 am
Sub-prime loans allowed the real estate boom to continue longer than it otherwise would have. Sub-prime loans did not cause the crisis nor did any of the public policies that encouraged and subsidized home ownership by those who otherwise could not have been players at all. The crisis in the housing market was bound to happen because Americans are allowed to speculate with real estate so there is has been a 18-20 year boom and bust cycle that has gone on for centuries if one follows the data.
March 12th, 2010 at 1:59 am
Nice Vid. I enjoyed it. We market properties and other things on youtube, we hope to create a large network of people interested in making money. Your video gets a five star rating from us. I hope you feel the same about ours.
March 12th, 2010 at 1:59 am
thehelpfund.blogspot
March 12th, 2010 at 1:59 am
thehelpfund.blogspot
March 12th, 2010 at 1:59 am
HISPANICS were the major group to hold SUBPRIME LOANS. HISPANICS were given loans when other groups could not get them. Now they want to be bailed out of their mess!!!If they weren’t so greedy they would not be in this situation. Most of them didn’t even have SSN oe EINS.Now BUSH has made it possible for them to get bailouts without SSN or EINs!!!S0illegals aliens are milking the system again!!! While Americans pay the bill!!!
March 12th, 2010 at 1:59 am
Quick and to the point. Another fine example of governmental deregulation.
March 12th, 2010 at 1:59 am
Great video of this issie.