At least $300 billion in subprime adjustable-rate mortgages will reset this year to higher interest rates.

Submitted by Callemity on Fri, 15/06/2007 - 16:09

Anyone who has given the headlines even a passing glance recently knows the subprime mortgage industry is in deep trouble. Since 2006 more than 20 subprime lenders have quit the business or gone bankrupt. Many more are in serious trouble, including the nation’s number two subprime lender, New Century Financial. The subprime crisis is also [...]

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