Here Comes The Second Wave Of Mortgage Problems
Posted By thestatedtruth.com on October 26, 2009
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Subprime resets crushed the housing market in ’07 and ’08. Now a new wave of adjustable-rate mortgages is just around the corner.
“These helped frame where we are in the mortgage crisis,â€Â “which has been the main shark in the water over the past couple of years. You should know where that shark is and whether or not it is hungry…
“Clearly, it is not yet safe to get back in the water: Years 2010 and 2011 face big resets in so-called Alt-A and Option ARM loans. What this means is more write-downs and more losses for banks and others who hold these mortgages.
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