Wave of Foreclosures coming

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.

When will the tsunami of foreclosures hit? – Buying a House – MSN Real Estate

It is only a matter of time before people will have to turn in their keys. It’s a sad fact but the adjustable-rate mortgages was a bad idea and Real Estate people were too willing to sell this product. The adjustable-rate mortgages was just a product of the booming real estat market of the past, where people thought valuation would keep going up and rates would stay low.

technorati tags:adjustable-rate mortgages, Foreclosure

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