payments?
How many mortgages were lost and how many were sub-prime?
And it was the sub-prime mortgages that foreclosed first since interest rates began defaulting in the last quarter of '05?
estielmo
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The only mortgages that are ruined are those that were not structured properly. Those who are panic-selling are also losing out.
Expert8675309
The problem was, the sub-prime market never should have existed.
They gave loans to people who had horrible credit to start with, sketchy sources of income, or even worse, let them routinely borrow more money than their home was even worth.
Over 90% of subprime loans were ARMS, and they adjust faster, more often, and with higher margins than A-paper ARMS.
So it is no surprise to me that the subprime market has all but went out of business.
In 1995, the mortgage market was still booming.
Ed Atun
It is true. But they did not mean to hurt anyone. They just wanted to buy a house..