I was reading an article in the Usa Today and came across some incredible news. Did you know that 1.3 million homeowners are in some phase of the foreclosure process last year. Approximately 1% of homeonwers are facing foreclosure during not to mention an astounding number of homes have had the values reduced substantially.
Even with the lenders negotiating mortgages in default there is still a forecast for an increase in the number of foreclosures. Due to the volume of homes in default any type of help seems to be minimal at best.
The subprime adjustable-rate mortgages is clearly at the center of attention. The question now is what can we do to solve this problem?
If you have an answer let us know
Mel Richardson
Melvin21@msn.com
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