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Reset loans add to US home woes

ft.com
02-Sep-2008
        
Story Timeline:  93 days

The stricken US mortgage market is set to suffer further setbacks in the next two years as $96bn of risky home loans sold with initial flexible payment options switch to more stringent terms. These will raise borrowers’ monthly payments by about 60%. The changing terms could more than double the number of borrowers falling behind on so-called “option adjustable rate mortgages” issued between 2004 and 2007,... [read full story]                    

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Latest article on this story:

ARM Resets: Tsunami Ahead (at CNBC)

 yahoo.com 04-Sep-2008
First article on this story:

Fitch: High Defaults Await U.S. Option ARMs as Loan Recasts Approach

 earthtimes.org 02-Sep-2008
Selected publications with coverage of this story:
ibtimes.com yahoo.com earthtimes.org baltimoresun.com ft.com cnn.com finanznachrichten.de
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Fitch: High Defaults Await U.S. Option ARMs as Loan Recasts Approach

finanznachrichten.de
02-Sep-2008
        

Many borrowers of U.S. option adjustable rate mortgages (ARMs) will soon have a substantially more difficult time making their increased monthly mortgage payments, according to Fitch Ratings in a special report. Though...

                   

Fitch: High Defaults Await U.S. Option ARMs as Loan Recasts Approach

earthtimes.org
02-Sep-2008
        

NEW YORK - Many borrowers of U.S. option adjustable rate mortgages (ARMs) will soon have a substantially more difficult time making their increased monthly mortgage payments, according to Fitch Ratings in a special report....