What to do with a Problem Loan

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The reports paint a dark picture. According to the Mortgage Bankers Association more than 2.1 million Americans missed at least one payment on their home loan at the end of last year, taking the rate of new foreclosures to a record high. It’s even worse for borrowers with scuffed credit and adjustable-rate mortgages. More than 14 percent of them were behind on their payments. But the worst is yet to come according to the MBA. The association predicts that least $300 billion in subprime … [Read more...]

Filed Under: Mortgages and Real Estate
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