2.2 million house foreclosers estimated in the US before the end of the year.
Legal but questionable lending methods to high risk borrowers. Escalation clauses hidden in loan agreements forcing inability to pay with loss of house and still on the hook for monies not recouped in sale.
House prices expect to decrease. Rate of equivalent of 1% for every foreclosure with in a given geographical radius.
Paraphrased from Paula Zahn Now on CNN.
Legal but questionable lending methods to high risk borrowers. Escalation clauses hidden in loan agreements forcing inability to pay with loss of house and still on the hook for monies not recouped in sale.
House prices expect to decrease. Rate of equivalent of 1% for every foreclosure with in a given geographical radius.
Paraphrased from Paula Zahn Now on CNN.
