Paulson, Lenders Discuss Subprime Relief
0 Comments Published December 2nd, 2007 in Banks, Borrowers.Back on the table, and helping to buoy the financial markets last week, is the possibility that wholesale relief will come to subprime mortgage holders next year. It is estimated that some $362 billion in subprime mortgages will reset next year adding 30-40% to subprime mortgage borrowers monthly payments. A huge majority of these resets will come in quarters two and three in 2008. US treasury secretary Hank Paulson is advocating wholesale forbearance for subprime resets in 2008.
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