GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Foreclosures up 60%

wiggitywack · 07-31-2007, 07:45 AM

This is probably only the beginning.

I read recently that the peak number of ARMs taking out during the housing boom are due to re set this Fall. Many of the people who got ARMs will be able to handle the increased payments for a few months, then will fall behind, then get into foreclosure trouble.

I have been following the housing news closely for a long time and I am confident we aren't even halfway thru the correction yet.

Just read what Countrywide's CEO had to say the other day:

http://money.cnn.com/2007/07/24/news...reut/index.htm

07-31-2007, 07:45 AM
wiggitywack Confirmed User Industry Role: Join Date: Mar 2004 Posts: 561	This is probably only the beginning. I read recently that the peak number of ARMs taking out during the housing boom are due to re set this Fall. Many of the people who got ARMs will be able to handle the increased payments for a few months, then will fall behind, then get into foreclosure trouble. I have been following the housing news closely for a long time and I am confident we aren't even halfway thru the correction yet. Just read what Countrywide's CEO had to say the other day: http://money.cnn.com/2007/07/24/news...reut/index.htm