Free Republic 3rd Qtr 2025 Fundraising Target: $81,000 Receipts & Pledges to-date: $16,245
20%  
Woo hoo!! And we're now over 20%!! Thank you all very much!! God bless.

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  • When Will the Tsunami of Foreclosures Hit?

    09/05/2006 2:01:48 PM PDT · by ex-Texan · 237 replies · 4,982+ views
    MSN.com Real Estate ^ | 9/5/2006 | Charles DuBow
    With millions of adjustable-rate mortgages about to reset this fall, experts expect a wave of foreclosures by Americans in every income bracket. Here's why they could soar in late 2006 and beyond: Those easy-mortgage chickens are coming home to roost. This fall the adjustable-rate mortgages (ARMs) that millions of Americans took out during the recent housing boom will be reset, and many homeowners will see their monthly mortgage payments shoot up by as much as 20%. According to the Mortgage Bankers Association, of all mortgages financed in 2005, 36% were ARMs -- the highest ever. This is a matter of...