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Adjustable Mortage Resets To Really Hit the Fan in 2008

seekingalpha.com — In 2008 interest rates will be reset upward on $362 billion worth of adjustable-rate subprime mortgages [ARMs] -- a scenario that could significantly worsen the already serious subprime crisis, according to a report in Saturday's Wall Street Journal.

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  • Rubab, on 11/27/2007, -1/+4Mortage has gathered steam in third world countries however financing companies like banks are not consumer supportive rather only interested in their profits as corporate infrastructure hardly allow these to pay attention to the consumers. I find the same situation in developed world, interest rates are so high that they are getting out of reach..
  • Bukowsky, on 11/28/2007, -0/+1I thought it already hit the fan... how can it get any worse?

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