26% of mortgages are "underwater" - 48% or more by 2011 - Politics and Other Controversies -Democrats, Republicans, Libertarians, Conservatives, Liberals, Third Parties, Left-Wing, Right-Wing, Congress, President - Page 3

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26% of mortgages are "underwater" - 48% or more by 2011

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08-06-2009, 04:25 AM

InformedConsent InformedConsent started this thread

Location: the very edge of the continent

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Quote:

Originally Posted by boiseguy

.. problem is there's another wave of foreclosures on the horizon...

Yep. Not only are CRE, Option ARMs, and Alt-As going to implode over the next 2 years, but prime mortgages are also in increasing trouble due in part to their underwater status and increasing unemployment.
FT.com / UK - US prime borrowers slip behind with payments as housing slump goes on

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