Realizing that most of these are probably ARMs, just curious to know what the average rate would be for those being foreclosed or deliquent, and how much they have gone up since they were initiated. Too bad that’s never published that I have seen.
That would be an interesting thing to know. That way we’d know if it was because:
-ARM rates adjusted and went too high to be affordable
-borrowers just ran out of their luck on loans they never really could afford anyway
-straight-up fraud involved