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Foreclosures break another record in first quarter

0 Comments Published May 30th, 2009 in News.

A record percentage of U.S. mortgages entered foreclosure in the first quarter, and the jump in foreclosure starts compared with the fourth quarter was the biggest leap ever recorded by the Mortgage Bankers Association, the industry group’s latest survey shows.

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« Financial Stocks: FDIC report, rising mortgage rates hit banks
FundWatch: Fund managers hit the ‘reset’ button on stocks »
This blog discusses subprime mortgage problems. Subprime problems began when lenders offered loans to potential home owners with bad credit or credit / income that did not meet the standards of traditional lending. Subprime mortgages for people with bad credit or no credit face an uncertain future. Once the hope of many to enter into home ownership has now been corrupted both by overreaching consumers and predatory lenders. I hope to follow the aftermath of this crisis.

Mortgage Lender Implode-o-Meter






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